Finance Act 2014

Amendment of section 886 of Principal Act (obligation to keep certain records)

91. Section 886 of the Principal Act is amended—

(a) in subsection (4)(a)(ii) by substituting “transactions, acts or operations, or” for “transactions, acts or operations.”,

(b) in subsection (4)(a) by inserting the following subparagraph after subparagraph (ii):

“(iii) where the transaction, act or operation is the subject of—

(I) an inquiry or investigation started by the Revenue Commissioners or by a Revenue officer into any matters to which this Act relates,

(II) a claim under a provision of this Act,

(III) proceedings relating to any matter to which this Act relates,

linking documents and records shall be retained by the person required to keep the records for the 6 year period and until such time as—

(A) the enquiry or investigation has been completed or the claim has been determined, and

(B) any appeal to Appeal Commissioners in relation to that enquiry or the determination of that claim or to any other matter to which the Act relates, has become final and conclusive, and

(C) any proceedings in relation to the outcome of the inquiry or investigation or the determination of that claim or that appeal, or to any other matter to which the Act relates, has been finally determined, and

(D) the time limit for instituting any appeal or proceedings or any further appeal or proceedings has expired.”,

(c) in subsection (4A) by substituting “subparagraph (i), (ii) or (iii) ” for “subparagraph (i) or (ii) ”,

(d) by inserting the following subsection after subsection (4A):

“(4B) For the purposes of this section, where a person dies the executor or administrator of that deceased person shall keep or retain the linking documents and records of that deceased person for the period specified in subparagraph (i), (ii) or (iii), as appropriate, of subsection (4)(a).”,

and

(e) in subsection (5) by substituting “(4), (4A) or (4B)” for “(4) or (4A)”.