The Value Added Tax (Refunds for Bad Depts) Regulations 1991

Records required to be kept by the claimant

5.—(1) Any person who makes a claim to the Commissioneers shall keep a roecord of that claim.

(2) Save as the Commissioners may otherwise allow, the record referred to in paragraph (1) above shall consist of the following information in respect of each claim made—

(a) in respect of each relevant supply for that claim—

(i) the amount of tax chargeable;

(ii) th prescribed accounting period in which the tax chargeable was accounted for and paid to the Commissioners;

(iii) the date and number of any invoice issued in relation thereto or, where there is no such invoice, such information as is necessary to identify the time, nature and purchaser thereof; and

(iv) any payment received therefor,

(b) the outstanding amount to which the claim relates,

(c) the amount of the claim, and

(d) the prescribed accounting period in which the claim was made.

(3) Any records created in pursuance of this regulation shall be kept in a single account to be known as the “refunds for bad debts account”.