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HMRC internal manual

Securities Guidance

From
HM Revenue & Customs
Updated
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Giving security: agreeing time to pay security

A person may ask for time to pay security.

You can agree time to pay but the time allowed to pay the full amount of security should be kept to a minimum as there is a risk to the revenue until full payment is made. The maximum amount of time you should allow the person to pay the full amount of security should not exceed three months.

If you agree time to pay security remind the person that

  • If they default on the agreement they can be prosecuted, even if they have paid part of the amount required. Only when the total amount required has been paid has security been provided.
  • VAT default surcharges remain due for payment until the final instalment of the security has been received.
  • The arrangement only covers security. All other payments to HMRC should be made by their due dates.

Where security is paid in instalments the period for monitoring the case starts from the date of receipt of the final instalment, see SG61000.