How to do a compliance check: records: how long records should be kept
The periods for which records need to be retained is set in the primary law and varies across the taxes.
For detailed information see
- CH14500 for income tax and capital gains tax
- CH14600 for corporation tax
- CH14650 for capital gains and losses
- CH14700 for PAYE and Construction Industry Scheme
- CH14900 for direct taxes claims not included in a return
- CH14930 for insurance premium tax
- CH14940 for stamp duty land tax
- CH14950 for aggregates levy climate change levy and landfill tax
- CH15100 for VAT
- CH14990 for excise duties.
The greatest cost associated with records tends to be their creation, but retention costs can also be significant. As a concession, we can allow reduced retention periods, see CH216000.