SCHEDULE 37 Record-keeping
Finance Act 2008 (2008 c 9) | Legislation

SCHEDULE 37 Record-keeping

Section 115

TMA 1970

1

TMA 1970 is amended as follows.

2

(1)     Section 12B (records to be kept for purposes of income tax and capital gains tax returns) is amended as follows.

(2)     In subsection (2)—

(a)     in paragraph (b), for “in any other case†substitute “otherwiseâ€, and

(b)     after that paragraph insert—

“or (in either case) such earlier day as may be specified in writing by the Commissioners for Her Majesty's Revenue and Customs (and different days may be specified for different cases).â€

(3)     In subsection (3), omit paragraph (b) and the “and†before it.

(4)     After that subsection insert—

“(3A)     The Commissioners for Her Majesty's Revenue and Customs may by regulations—

(a)     provide that the records required to be kept and preserved under this section include, or do not include, records specified in the regulations, and

(b)     provide that those records include supporting documents so specified.â€

(5)     For subsection (4) substitute—

“(4)     The duty under subsection (1) or (2A) to preserve records may be discharged—

(a)     by preserving them in any form and by any means, or

(b)     by preserving the information contained in them in any

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