Claims, Elections and Notices: record keeping requirement
Claimants are required to keep the records on which a claim is based
Paras 2A(1), (2) & (3), Schedule 1A
A claimant is required to keep and preserve the records needed to make a correct and complete claim. Any such records must be kept until the later of:
- the date on which a formal enquiry into the claim is treated as complete
- the date on which it becomes impossible for any such enquiry to be opened.
Penalty for failure to keep or preserve records
Para 2A(4) Schedule 1A
A penalty of up to £3,000 may be charged for each failure to keep or preserve adequate records in support of a claim.