The Value Added Tax (Accounting and Records) Regulations 1989

Records

2.—(1) Every taxable person shall, for the purpose of accounting for tax, keep and preserve the following records–

(a) his business and accounting records;

(b) his value added tax account;

(c) copies of all tax invoices issued by him;

(d) tax invoices received by him;

(e) documentation relating to importations and exportations by him; and

(f) all credit notes, debit notes or other documents which evidence an increase or decrease in consideration that are received, and copies of all such documents that are issued by him.

(2) The Commissioners may,

(a) in relation to a trade or business of a description specified by them; or

(b) for the purposes of any scheme established by, or under, Regulations made under the Act,

supplement paragraph (1) of this regulation by a notice published by them for that purpose.

(3)  The Commissioners may vary the terms of any notice by–

(a) publishing a fresh notice; or

(b) publishing a notice which amends an existing notice.