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HMRC internal manual

Holding and Movements - Financial Securities Assurance

Premises guarantees: How do I respond to a request from the Financial Security Centre when a premises guarantee is required?

Applications received at the Financial Securities Centre for authorized warehousekeeperstatus and/or the approval of new warehouse premises require premises security.The FSC will forward the request on to the Regional Risk Managers/and or CRM’s forlocal action.

Local staff must:

  • Visit the applicant to establish the potential duty due on the average end of month stock calculated over a 12 month period, allowing for seasonal variations;
  • Calculate the size of the guarantee required;
  • Complete Form FSC1 and forward it to the FSC (which will confirm receipt). The FSC1 must be completed in the name of the legal entity not a trading name.