Commentary

E1.205 Keeping and preserving records under self assessment

Personal and employment tax

E1.205 Keeping and preserving records under self assessment

E1.205 Keeping and preserving records under self assessment

Where a self assessment return is required from an individual, trustee or partnership, that person must keep sufficient records to enable them to make a correct and complete return for the tax year concerned1.

Length of time that the records must be kept

Taxpayers carrying on a trade, profession or vocation or letting a property

Where the taxpayer carries on a trade, profession or vocation or lets a property, they must preserve their records until the later of2:

  1.  

    (a)     the fifth anniversary of 31 January following the end of the tax year

  2.  

    (b)     the sixth anniversary of the end of the accounting period

  3.  

    (c)     the date on which the enquiry window closes, which could be later if the return was submitted late, was issued after 31 October and filed after 31 January following the end of the tax year, or if the return was amended after filing (see A6.401), and

  4.  

    (d)     the date on which an enquiry into the return is closed (see A6.418A)

HMRC also has the power to specify an earlier date3.

If the taxpayer did not submit a tax return for the tax year and HMRC issues a notice to complete a tax return after the date specified in (a) or (b) above, the taxpayer must retain their records until the expiry of the later of dates in (c) and (d)4.

All other taxpayers

All other taxpayers

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