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HMRC internal manual

Securities Guidance

Security as a condition of releasing a VAT credit: the law

Paragraph 4(1A) of Schedule 11 to the Value Added Tax Act 1994 provides:

4(1A) If they think it necessary for the protection of the revenue, the Commissioners may require, as a condition of making any VAT credit, the giving of such security for the amount of the payment as appears to them appropriate.