Finance (No. 2) Act 2023

Part 9 Record-keeping requirements

31 (1) The filing member of the group must—

(a) keep such records as may be needed to enable it to deliver correct and complete returns if required, and

(b) preserve those records in accordance with this paragraph.

(2) The records must be preserved until the end of the relevant day.

(3) “The relevant day” means—

(a) the later of—

(i) the ninth anniversary of the last day of the accounting period to which the records relate, and

(ii) if a self-assessment return relating to that accounting period is submitted and a notice of enquiry into that return has been given before the anniversary referred to in sub-paragraph (i), the day at the end of the period of six months beginning with the day the enquiry is completed;

(b) such earlier day as may be specified in a notice published by HMRC (and different days may be specified for different cases).

(4) The duty to preserve records may be satisfied—

(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 any conditions or exceptions specified in a notice published by HMRC.