Revenue Scotland and Tax Powers Act 2014 section 122

Meaning of "statutory records"

Section 122 defines what counts as "statutory records" for the purposes of Revenue Scotland's information and investigation powers.

• Statutory records are documents or information that a person is required to keep and preserve under the Revenue Scotland and Tax Powers Act 2014.
• Non-business records that are only required to be kept under this Act (and not under any other devolved tax legislation) only become statutory records once the relevant accounting period has ended.
• Documents and information stop being statutory records once the legally required preservation period has expired.
• The definition matters because Revenue Scotland has specific powers to request and inspect statutory records, so understanding what falls within the definition determines what can be required in an investigation.

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