Search Legislation

Finance Act 2008

 Help about what version

What Version

 Help about advanced features

Advanced Features

Changes over time for: SCHEDULE 37

 Help about opening options

Changes to legislation:

Finance Act 2008, SCHEDULE 37 is up to date with all changes known to be in force on or before 19 March 2024. 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. Help about Changes to Legislation

Close

Changes to Legislation

Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.

View outstanding changes

Changes and effects yet to be applied to the whole Act associated Parts and Chapters:

Whole provisions yet to be inserted into this Act (including any effects on those provisions):

Section 115

SCHEDULE 37U.K.Record-keeping

TMA 1970U.K.

1U.K.TMA 1970 is amended as follows.

2(1)Section 12B (records to be kept for purposes of income tax and capital gains tax returns) is amended as follows.U.K.

(2)In subsection (2)—

(a)in paragraph (b), for “in any other case” substitute “ otherwise ”, and

(b)after that paragraph insert— “ or (in either case) 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)In subsection (3), omit paragraph (b) and the “and” before it.

(4)After that subsection insert—

(3A)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 section include, or do not include, records specified in the regulations, and

(b)provide that those records include supporting documents so specified.

(5)For subsection (4) substitute—

(4)The duty under subsection (1) or (2A) to preserve records may be discharged—

(a)by preserving them in any form and by any means, or

(b)by preserving the information contained in them in any form and by any means,

subject to subsection (4A) and any conditions or further exceptions specified in writing by the Commissioners for Her Majesty's Revenue and Customs.

(6)In subsection (4A), for “The records which fall within this subsection are” substitute “ Subsection (4)(b) does not apply in the case of the following kinds of records ”.

(7)After subsection (5B) insert—

(5C)Regulations under this section may—

(a)make different provision for different cases, and

(b)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).

Commencement Information

I1Sch. 37 para. 2 in force at 1.4.2009 for the purposes of the amendments made by that paragraph by S.I. 2009/402, art. 2

3(1)Paragraph 2A of Schedule 1A (records to be kept for the purposes of claims) is amended as follows.U.K.

(2)After sub-paragraph (2) insert—

(2A)The Commissioners for Her Majesty's Revenue and Customs may by regulations—

(a)provide that the records required to be kept and preserved under sub-paragraph (1) include, or do not include, records specified in the regulations, and

(b)provide that those records include supporting documents so specified.

(3)For sub-paragraph (3) substitute—

(3)The duty under sub-paragraph (1) to preserve records may be discharged—

(a)by preserving them in any form and by any means, or

(b)by preserving the information contained in them in any form and by any means,

subject to sub-paragraph (3A) and any conditions or further exceptions specified in writing by the Commissioners for Her Majesty's Revenue and Customs.

(3A)Sub-paragraph (3)(b) does not apply in the case of records of the kinds specified in section 12B(4A) or paragraph 22(3) of Schedule 18 to the Finance Act 1998.

(4)Insert at the end—

(6)Regulations under this paragraph may—

(a)make different provision for different cases, and

(b)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).

(7)In this paragraph “supporting documents” includes accounts, books, deeds, contracts, vouchers and receipts.

Commencement Information

I2Sch. 37 para. 3 in force at 1.4.2009 for the purposes of the amendments made by that paragraph by S.I. 2009/402, art. 2

VATA 1994U.K.

4U.K.Schedule 11 to VATA 1994 (administration, collection and enforcement) is amended as follows.

5(1)Paragraph 6 (duty to keep records) is amended as follows.U.K.

(2)In sub-paragraph (3), for “require”, in the second place, substitute “ specify in writing (and different periods may be specified for different cases) ”.

(3)For sub-paragraphs (4) to (6) substitute—

(4)The duty under this paragraph to preserve records may be discharged—

(a)by preserving them in any form and by any means, or

(b)by preserving the information contained in them in any form and by any means,

subject to any conditions or exceptions specified in writing by the Commissioners for Her Majesty's Revenue and Customs.

Commencement Information

I3Sch. 37 para. 5 in force at 1.4.2009 for the purposes of the amendments made by that paragraph by S.I. 2009/402, art. 2

6U.K.In paragraph 6A(7) (application of provisions of paragraph 6 where directions under paragraph 6A require records to be kept)—

(a)for “Sub-paragraphs (4) to (6) of paragraph 6 (preservation of information by means approved by the Commissioners) apply” substitute “ Sub-paragraph (4) of paragraph 6 (preservation of information) applies ”, and

(b)for “they apply” substitute “ it applies ”.

Commencement Information

I4Sch. 37 para. 6 in force at 1.4.2009 for the purposes of the amendments made by that paragraph by S.I. 2009/402, art. 2

FA 1998U.K.

7U.K.Schedule 18 to FA 1998 (company tax returns) is amended as follows.

8(1)Paragraph 21 (duty to keep and preserve records) is amended as follows.U.K.

(2)In sub-paragraph (2), for the words from “for six years” to the end substitute “ until the end of the relevant day. ”

(3)After that sub-paragraph insert—

(2A)In this paragraph “relevant day” means—

(a)the sixth anniversary of the end of the period for which the company may be required to deliver a company tax return, 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).

(4)In sub-paragraph (3), for “that six year period” substitute “ the relevant day ”.

(5)In sub-paragraph (4), for “that six year period” substitute “ the relevant day ”.

(6)After sub-paragraph (5) insert—

(5A)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.

(5B)Regulations under this paragraph may—

(a)make different provision for different cases, and

(b)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).

(7)In sub-paragraph (6), omit the first sentence.

Commencement Information

I5Sch. 37 para. 8 in force at 1.4.2009 for the purposes of the amendments made by that paragraph by S.I. 2009/402, art. 2

9(1)Paragraph 22 (preservation of information instead of original records) is amended as follows.U.K.

(2)For sub-paragraph (1) substitute—

(1)The duty under paragraph 21 to preserve records may be discharged—

(a)by preserving them in any form and by any means, or

(b)by preserving the information contained in them in any form and by any means,

subject to sub-paragraph (3) and any conditions or exceptions specified in writing by the Commissioners for Her Majesty's Revenue and Customs.

(3)Omit sub-paragraph (2).

(4)In sub-paragraph (3), for “The records excluded from sub-paragraph (1) are” substitute “ Sub-paragraph (1)(b) does not apply in the case of the following kinds of records ”.

(5)Accordingly, in the heading before that paragraph, for “instead of original records” substitute etc.

Commencement Information

I6Sch. 37 para. 9 in force at 1.4.2009 for the purposes of the amendments made by that paragraph by S.I. 2009/402, art. 2

Consequential provisionsU.K.

10U.K.In section 13(6) of FA 1999 (VAT and gold)—

(a)for “(6)” substitute “ (4) ”,

(b)after “above” insert “ , and to records kept in pursuance of such regulations, ”, and

(c)insert at the end “ and to records kept in pursuance of that paragraph ”.

Commencement Information

I7Sch. 37 para. 10 in force at 1.4.2009 for the purposes of the amendments made by that paragraph by S.I. 2009/402, art. 2

11U.K.In consequence of the amendments made by paragraph 2 omit—

(a)section 105(4)(b) of FA 1995, and

(b)section 124(2) and (6) of FA 1996.

Commencement Information

I8Sch. 37 para. 11 in force at 1.4.2009 for the purposes of the amendments made by that paragraph by S.I. 2009/402, art. 2

Back to top

Options/Help

Print Options

You have chosen to open The Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Act as a PDF

The Whole Act you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?

You have chosen to open the Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open the Whole Act without Schedules

The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open Schedules only

The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

See additional information alongside the content

Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.

Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

Timeline of Changes

This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.

Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources