Taxes Consolidation Act 1997 section 960S

Security for certain taxes

Section 960S empowers the Revenue Commissioners to require a person carrying on a business to provide security for the payment of certain fiduciary taxes, and makes it an offence to continue in business without providing the required security.

• Revenue may require a business to provide security (or further security) for fiduciary taxes where they consider it necessary to protect the revenue
• The taxes covered are PAYE, relevant contracts tax, universal social charge, VAT and local property tax
• It is an offence to continue in business after receiving a security notice without first putting the required security in place
• A person served with a security notice may appeal to the Appeal Commissioners within 30 days, and the prohibition on trading is suspended until the appeal is determined