Textual Amendments
F1Sch. 11A inserted (22.7.2004) by Finance Act 2004 (c. 12), Sch. 40
3(1)A person who may wish to make a claim must—U.K.
(a)keep such records as may be needed to enable him to make a correct and complete claim, and
(b)preserve those records in accordance with this paragraph.
(2)The records must be preserved until the latest of the following times—
(a)the end of the period of twelve months beginning with day on which the claim was made;
(b)where there is an enquiry into the claim, or into an amendment of the claim, the time when the enquiry is completed;
(c)where the claim is amended and there is there is no enquiry into the amendment, the time when the Inland Revenue no longer have power to enquire into the amendment.
(3)The duty under this paragraph to preserve records may be satisfied by the preservation of the information contained in them.
(4)Where information is so preserved a copy of any document forming part of the records is admissible in evidence in any proceedings before the Commissioners to the same extent as the records themselves.
(5)A person who fails to comply with this paragraph in relation to a claim that he makes is liable to a penalty not exceeding £3,000, subject to the following exception.
(6)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.]