Taxation (International and Other Provisions) Act 2010 section 38

Duty to keep and preserve records

Section 38 sets out the record-keeping and preservation obligations that apply to a reporting company responsible for submitting an interest restriction return on behalf of a worldwide group.

• A reporting company must keep all records necessary to submit a correct and complete interest restriction return for the relevant period of account.
• Records must generally be preserved until six years after the end of the period of account, unless HMRC specifies an earlier date in writing.
• Where a return has been submitted, records must be kept until any HMRC enquiry into that return is complete, or if no enquiry is opened, until HMRC's power to open one has expired — whichever is later.
• Records may be preserved in any form or medium, including digitally, subject to any conditions HMRC may specify, and HMRC may make regulations defining which records and supporting documents must be retained.