Finance Act 2008

Amendment of section 16 (duty to keep records) of Principal Act.

100.— Section 16 of the Principal Act is amended—

(a) in subsection (1) by inserting “and entitlement to deductibility” after “tax”, and

(b) by inserting the following after subsection (4):

“(5) The requirement to keep records in accordance with this section shall apply to records relating to—

(a) exercising and terminating a landlord’s option to tax,

(b) a capital good record referred to in section 12E, and

(c) a joint option for taxation.”.