PART 3TAX RETURNS, ENQUIRIES AND ASSESSMENTS
CHAPTER 2F1... DUTIES TO KEEP AND PRESERVE RECORDS
38AF2Duty to keep and preserve records: land transactions in respect of which no tax return is required.
1
This section applies in relation to a land transaction, other than a transaction of a type listed in section 65(4) of LTTA, in respect of which no tax return is required to be made.
2
The buyer in a land transaction in relation to which this section applies must—
a
keep any records that may be needed to enable the buyer to demonstrate that no tax return is required to be made, and
b
preserve any records that may be needed for that purpose.
3
The records must be preserved until the end of the relevant date.
4
The ““relevant date”” is the sixth anniversary of the effective date of the transaction.
5
But if WRA specifies an earlier date under this subsection, the ““relevant date”” is the date specified.
6
Different dates may be specified for different purposes under subsection (5).
7
In subsection (4), “"effective date”” has the same meaning as in LTTA.
Word in Pt. 3 Ch. 2 heading omitted (1.4.2018) by virtue of Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 (anaw 1), s. 81(2)(3), Sch. 23 para. 4; S.I. 2018/34, art. 3