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HMRC internal manual

VAT Civil Penalties

HM Revenue & Customs
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Definition of Regulatory Penalties: Conditions and rates for failure to preserve records

We may require any records to be preserved for a period not exceeding 6 years. Failure tocomply with the requirement to preserve records makes a person liable to a penalty undersection 69(2).

The penalty rate to be applied depends on which regulatory requirement is breached.

Penalty for the failure to preserve records

If any person fails to comply with a requirement to preserve records imposed underparagraph 6(3) of Schedule 11, he shall be liable, subject to the following provisions ofthis section to a penalty of £500.