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HMRC internal manual

Holding and Movements - Financial Securities Assurance

General information: Format of financial securities

Guarantees are the only form of security acceptable to us. It is intended that theywill provide:

  • A fixed maximum liability for the guarantor
  • A period of notice for withdrawal (applicable to both the guarantor and HMRC)
  • Cover for premises and/or movements (as applicable)
  • Automatic restitution of the original level of security where, following the submission of a claim, neither party exercises the right to withdraw within 30 days of the claim being received