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HMRC internal manual

Compliance Handbook

From
HM Revenue & Customs
Updated
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Record Keeping: How long must records be retained for: Income tax and capital gains tax: Specified retention periods

A person who may be required to make a return for the purposes of income tax or capital gains tax must retain their records for a specified period. The length of this period depends upon whether or not the person is carrying on a trade, profession or business (alone or in partnership).

Where the person carries on a trade, profession or business, see CH14530. For these purposes ‘trade’ includes the letting of property.

Where the person does not carry on a trade, profession or business, see CH14550.