SolvedCH11300 | Record Keeping: What records must be kept: Income tax and corporation tax requirements for trade, profession or business and companies
From HM Revenue & Customs · Compliance Handbook
In addition to the general requirements, see CH11200, there are additional, more specific, requirements for
persons carrying on a trade, profession or business alone or in partnership, and
companies.
For these purposes, ‘trade’ includes the letting of property.
These people must keep
records of all receipts and expenses in the course of the trade, profession or business, or company activities, and
records of the matters in respect of which those receipts and expenditure take place, and
records of all sales and purchases made in the course of any trade involving dealing in goods.
The Companies Act 2006 requires companies to keep certain accounting records. CH11400 contains more details.