SCHEDULES

SCHEDULE 10 U.K. Stamp duty land tax: returns, enquiries, assessments and appeals

Part 2 U.K. Duty to keep and preserve records

Penalty for failure to keep and preserve records U.K.

11 (1) A person who fails to comply with paragraph 9 in relation to a transaction is liable to a penalty not exceeding £3,000, subject to the following exception. U.K.

(2) No penalty is incurred if the Inland Revenue are satisfied that any facts that they reasonably require to be proved, and that would have been proved by the records, are proved by other documentary evidence provided to them.