Taxes Management Act 1970

[F1 [F2 2A (1) Any person who may wish to make a claim in relation to a year of assessment or other period shall— U.K.

(a) keep all such records as may be requisite for the purpose of enabling him to make a correct and complete claim; and

(b) shall preserve those records until the end of the relevant day.

(2) In relation to a claim, the relevant day for the purposes of sub-paragraph (1) above is whichever of the following is the latest, namely—

(a) where enquiries into the claim or any amendment of the claim are made by an officer of the Board, the day on which, by virtue of paragraph [F3 7(1)] below, those enquiries are F4 ... completed; and

(b) where no enquiries into the claim or any amendment of the claim are so made, the day on which such an officer no longer has power to make such enquiries.

[F5 (2A) The Commissioners for Her Majesty's Revenue and Customs may by regulations—

(a) provide that the records required to be kept and preserved under sub-paragraph (1) include, or do not include, records specified in the regulations, and

(b) provide that those records include supporting documents so specified.]

[F6 (3) The duty under sub-paragraph (1) to preserve records may be discharged—

(a) by preserving them in any form and by any means, or

(b) by preserving the information contained in them in any form and by any means,

subject to sub-paragraph (3A) and any conditions or further exceptions specified in writing by the Commissioners for Her Majesty's Revenue and Customs.

(3A) Sub-paragraph (3)(b) does not apply in the case of records of the kinds specified in section 12B(4A) or paragraph 22(3) of Schedule 18 to the Finance Act 1998.]

(4) [F7 Subject to sub-paragraph (5) below,] any person who fails to comply with sub-paragraph (1) above in relation to any claim which is made for a year of assessment or accounting period shall be liable to a penalty not exceeding £3,000.

[F8 (5) Sub-paragraph (4) above does not apply where—

(a) the records which the person fails to keep or preserve are records falling within paragraph (a) of section 12B(4A) of this Act [F9 or paragraph 22(3) of Schedule 18 to the Finance Act 1998]; and

(b) an officer of the Board is satisfied that any facts which he reasonably requires to be proved, and which would have been proved by the records, are proved by other documentary evidence furnished to him.]

[F10 (6) Regulations under this paragraph may—

(a) make different provision for different cases, and

(b) make provision by reference to things specified in a notice published by the Commissioners for Her Majesty's Revenue and Customs in accordance with the regulations (and not withdrawn by a subsequent notice).

(7) In this paragraph “supporting documents” includes accounts, books, deeds, contracts, vouchers and receipts.]]]

Textual Amendments

F1 Sch. 1A inserted (with effect in accordance with s. 199(2)(3) of the amending Act) by Finance Act 1994 (c. 9), Sch. 19 para. 35; S.I. 1998/3173, art. 2

F2 Sch. 1A para. 2A and cross-heading inserted (with effect in accordance with s. 103(7) of the amending Act) by Finance Act 1995 (c. 4), Sch. 20 para. 2

F3 Word in Sch. 1A para. 2A(2)(a) substituted (with effect in accordance with s. 88(3) of the amending Act) by Finance Act 2001 (c. 9), Sch. 29 para. 34(2)(a)

F4 Words in Sch. 1A para. 2A(2)(a) repealed (with effect in accordance with s. 88(3) of the amending Act) by Finance Act 2001 (c. 9), Sch. 29 para. 34(2)(b), Sch. 33 Pt. 2(13)

F5 Sch. 1A para. 2A(2A) inserted (1.4.2009) by Finance Act 2008 (c. 9), s. 115(2), Sch. 37 para. 3(2); S.I. 2009/402, art. 2

F6 Sch. 1A para. 2A(3)(3A) substituted for Sch. 1A para. 2A(3) (1.4.2009) by Finance Act 2008 (c. 9), s. 115(2), Sch. 37 para. 3(3); S.I. 2009/402, art. 2

F7 Words in Sch. 1A para. 2A(4) inserted (with effect in accordance with s. 124(1) of the amending Act) by Finance Act 1996 (c. 8), s. 124(7) (with s. 124(9))

F8 Sch. 1A para. 2A(5) inserted (with effect in accordance with s. 124(1) of the amending Act) by Finance Act 1996 (c. 8), s. 124(8) (with s. 124(9))

F9 Words in Sch. 1A para. 2A(5)(a) inserted (with effect in accordance with s. 117(4)(5) of the amending Act) by Finance Act 1998 (c. 36), Sch. 19 para. 42(4); S.I. 1998/3173, art. 2

F10 Sch. 1A para. 2A(6)(7) inserted (1.4.2009) by Finance Act 2008 (c. 9), s. 115(2), Sch. 37 para. 3(4); S.I. 2009/402, art. 2