Version Superseded: 01/04/2010
Point in time view as at 01/01/2010.
Finance Act 2003, Cross Heading: Duty to keep and preserve records is up to date with all changes known to be in force on or before 07 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
4[F1(A1)This paragraph applies where a transaction is not notifiable, unless the transaction is a transaction treated as taking place under a provision listed in section 79(2)(a) to (d).]U.K.
(1)[F2The purchaser] must—
(a)keep such records as may be needed to enable him [F3to demonstrate that the transaction is not notifiable], and
(b)preserve those records in accordance with this paragraph.
(2)The records must be preserved for six years after the effective date of the transaction F4....
(3)The records required to be kept and preserved under this paragraph include—
(a)relevant instruments relating to the transaction, in particular, any contract or conveyance, and any supporting maps, plans or similar documents;
(b)records of relevant payments, receipts and financial arrangements.
Textual Amendments
F1Sch. 11 para. 4(A1) inserted (with effect in accordance with s. 94(5) of the amending Act) by Finance Act 2008 (c. 9), Sch. 30 para. 9(2)
F2Words in Sch. 11 para. 4(1) substituted (with effect in accordance with s. 94(5) of the amending Act) by Finance Act 2008 (c. 9), Sch. 30 para. 9(3)(a)
F3Words in Sch. 11 para. 4(1)(a) substituted (with effect in accordance with s. 94(5) of the amending Act) by Finance Act 2008 (c. 9), Sch. 30 para. 9(3)(b)
F4Words in Sch. 11 para. 4(2) omitted (with effect in accordance with s. 94(5) of the amending Act) by virtue of Finance Act 2008 (c. 9), Sch. 30 para. 9(4)
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