CH14900 - Record Keeping: How long must records be retained for: Direct taxes claims not included in a return
Records to support a claim not included in a return must be retained for a specified period. The person must retain their records until the later of
- the date any enquiry into the claim or amended claim is completed, and
- the day after the enquiry window closes. This is the later of
- the first anniversary of the quarter day next following the date on which the claim was made,
- the first anniversary of 31 January next following the year of assessment to which the claim relates, where the claim relates to a tax year,
- the first anniversary of the end of the period to which the claim relates where the claim relates to a period other than a tax year.
We can charge a penalty if a person fails to keep or retain records, see SACM4020.