[F1Security for paymentsU.K.
Textual Amendments
F1Sch. 18 para. 88A and cross-heading inserted (12.2.2019) by Finance Act 2019 (c. 1), s. 82(2)
88A(1)The Commissioners for Her Majesty’s Revenue and Customs may by regulations make provision for and in connection with requiring the giving, by prescribed persons and in prescribed circumstances, of security for the payment of tax that a company is or may be liable to pay.U.K.
(2)Regulations under this paragraph must provide that security may be required only where an officer of Revenue and Customs considers it necessary for the protection of the revenue.
(3)Regulations under this paragraph must provide for a right of appeal against—
(a)decisions to require security to be given;
(b)decisions as to the amount, terms or duration of any security required.
(4)A person commits an offence if—
(a)the person fails to comply with a requirement to give security that is imposed by regulations under this paragraph, and
(b)the failure continues for such period as is prescribed.
(5)A person who commits an offence under sub-paragraph (4) is liable on summary conviction—
(a)in England and Wales, to a fine;
(b)in Scotland or Northern Ireland, to a fine not exceeding level 5 on the standard scale.
(6)In this paragraph—
“prescribed” means prescribed in regulations under this paragraph;
“security” includes further security.]