Retention of Books and Records

Section 886 of the Taxes Consolidation Act 1997 outlines the obligations on a person to keep proper books and records so that correct returns of income may be made. In general, proper books and records must be retained for a period of 6 years after the completion of transactions, acts or operations to which the books and records relate.

Where a transaction, act or operation is the subject of an investigation, inquiry, claim, assessment, appeal or proceedings which has already commenced within that 6 year period, then the relevant books and records must be retained until such time as the investigation, inquiry, claim, assessment, appeal or proceedings has been concluded. 

Read more : Revenue Manual

 

 

© 2017 Williams Merrigan Limited. All Rights Reserved.