INTM450060 - Transfer pricing records: possession or power

In general, a person cannot be required to produce a document unless the document is in their possession, or they have the power to produce it (see CH22120).

However, the possession and power restriction does not apply to the specified transfer pricing records.

Where a UK entity is in scope of the Regulations, a relevant person is required to produce the specified transfer pricing records in response to a formal information notice even if the information or documentation needed to prepare the specified transfer pricing records is in the power or possession of another person who is part of the same MNE group (FA08/SCH36/PARA37C).