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Tax appeals, disputes and complaints Tax: your duties

Pile of papers

You have certain duties when it comes to tax record keeping

You have certain responsibilities when it comes to record keeping and completing your tax return:

  • You have a duty to provide accurate information and keep records – even if you have an accountant or a tax adviser.
  • If you complete a tax return, in most cases you are required to keep financial records for a minimum of 22 months from the end of the tax year to which they relate.
  • If you’re self-employed or let property: keep records for five years from 31 January following the end of the tax year (or the filing date that applied to you if later) for which your tax return is made.

Penalties and fines

You could be fined up to £3000 if you don’t keep records to back up your tax return. The HMRC also has new powers to inspect documents and has introduced the following penalties for non-compliance:

  • £300 for failure to produce documents
  • Up to £60 a day for persistent failure
  • Additional Upper-Tribunal-set tax-geared penalty for persistent failure
  • Criminal fine and/or up to two years in prison for destroying or concealing documents

For more information if you're self-employed, see our book Working for Yourself. 

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