CH10100 - Record Keeping: Overview


A person must keep and maintain records in order to make a correct and complete return or claim even if they don’t make a return or claim every year. The person must retain these records and supporting documents for a specified period.

As part of the review of powers undertaken following the creation of HMRC, work has started on aligning the record-keeping requirements for


  • income tax
  • capital gains tax
  • corporation tax
  • direct taxes claims not included in a return, and
  • VAT.

Some changes will take effect from 1 April 2009.

These changes allow HMRC to


  • make regulations to specify the records and supporting documents that must or that need not be kept
  • reduce the period for which records must be kept in individual cases, and
  • specify conditions and exceptions to the general rule that information instead of records may be preserved.

We may charge a penalty if a person fails to keep or retain records. There is no change to the existing penalty regimes.


FA08/SCH37

TMA70/S12B

TMA70/SCH1A/PARA2A

FA98/SCH18/PARA21

VATA94/SCH11/PARA6 & 6A

EU directive 2006/112/EU