SCHEDULE 11Stamp duty land tax: record-keeping where transaction is not notifiable
Part 2Duty to keep and preserve records
Duty to keep and preserve records
4
F1A1
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).
(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 F4until the end of—
(a)
the sixth anniversary of the effective date of the transaction, or
(b)
such earlier day as may be specified in writing by the Commissioners for Her Majesty's Revenue and Customs (and different days may be specified for different cases).
(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.
F5(4)
The Commissioners for Her Majesty's Revenue and Customs may by regulations—
(a)
provide that the records required to be kept and preserved under this paragraph include, or do not include, records specified in the regulations, and
(b)
provide that those records include supporting documents so specified.
(5)
Regulations under this paragraph may 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notice published by the Commissioners for Her Majesty's Revenue and Customs in accordance with the regulations (and not withdrawn by a subsequent notice).
(6)
“Supporting documents” includes accounts, books, deeds, contracts, vouchers and receipts.