A person who may be required to make a return for the purposes
of income tax or capital gains tax must retain their records for a
specified period. The length of this period depends upon whether or
not the person is carrying on a trade, profession or business
(alone or in partnership).
Where the person carries on a trade, profession or business, see CH14530. For these purposes ‘trade’ includes the letting of property.
Where the person does not carry on a trade, profession or business, see CH14550.