Records in respect of land and buildings transaction tax4
1
The buyer in a land transaction which is not notifiable must keep such records as may be needed to enable the buyer to demonstrate that the transaction is not notifiable.
2
Subject to paragraph (3), sections 74(2), (5), (7) and (8), and 76 to 79 of the Act apply to a buyer mentioned in paragraph (1) as those sections apply to a person mentioned in section 74(1) of the Act.
3
In paragraph (2) the reference to section 74(5) of the Act is a reference to that subsection, with the following substituted for paragraph (a)—
a
the fifth anniversary of the day by which a return would have been required to have been made, had the land transaction been notifiable,