Part III Income Tax, Corporation Tax and Capital Gains Tax
Management: self-assessment etc.
105 Records for purposes of returns.
(1)
“(b)
preserve those records until the end of the relevant day, that is to say, the day mentioned in subsection (2) below or, where a return is required by a notice given on or before that day, whichever of that day and the following is the latest, namely—
(i)
where enquiries into the return or any amendment of the return are made by an officer of the Board, the day on which, by virtue of section 28A(5) or 28B(5) of this Act, those enquiries are treated as completed; and
(ii)
where no enquiries into the return or any amendment of the return are so made, the day on which such an officer no longer has power to make such enquiries.”
(2)
In subsection (2) of that section, the words from “or, where a return” to the end shall cease to have effect.
(3)
“(2A)
Any person who—
(a)
is required, by such a notice as is mentioned in subsection (1) above given at any time after the end of the day mentioned in subsection (2) above, to make and deliver a return for a year of assessment or other period; and
(b)
has in his possession at that time any records which may be requisite for the purpose of enabling him to make and deliver a correct and complete return for the year or period,
shall preserve those records until the end of the relevant day, that is to say, the day which, if the notice had been given on or before the day mentioned in subsection (2) above, would have been the relevant day for the purposes of subsection (1) above.”
(4)
In subsection (3) of that section—
(a)
in paragraph (a), after the words “subsection (1)” there shall be inserted the words “
or (2A)
”
; and
F1(b)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5)
In subsection (4) of that section, after the words “subsection (1)” there shall be inserted the words “
or (2A)
”
.
(6)
In subsection (5) of that section—
(a)
at the beginning there shall be inserted the words “
Subject to subsection (5A) below,
”
; and
(b)
after the words “subsection (1)” there shall be inserted the words “
or (2A)
”
.
(7)
“(5A)
Subsection (5) above does not apply where the records which the person fails to keep or preserve are records which might have been requisite only for the purposes of claims, elections or notices which are not included in the return.”