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HMRC internal manual

Company Taxation Manual

Tax elected funds (TEFs): provisions for providing tax information to participants: alternative rules for providing tax information to participants - tax information that should be retained by participants

What tax information should participants retain?

Participants should keep the generic information sent to them (either by post or electronically) along with a print out of the information accessed electronically or information gained by alternative means. If the alternative method of accessing information is used to obtain all the required tax information, which may include telephoning a call centre, then a record of the conversation should be retained accordingly.

If a participant is not liable to tax then any tax that has been deducted can be reclaimed. The participant should retain the generic information sent by the fund and the information accessed electronically or by alternative means (as described above), in case of an enquiry.