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HMRC internal manual

Insurance Premium Tax


Paragraph 24 of Schedule 7 to the 1994 Finance Act grants the Commissioners powers to require an initial or additional security from a registrable person, in respect of tax which is or may become due. It is anticipated that these powers will, in practice, be invoked in only the most exceptional circumstances, such as where a person registered for IPT - or other persons closely connected with the registered person - have a history of failing to pay IPT or VAT debts.

If you think that security action might be appropriate you should report the case to Insolvency and Securities Team, which is part of Special Civil Investigations.