Where taxpayers are discharging a liability other than their own, some of the records that are required are specified by legislation. In the case of VAT and PAYE liability to tax is determined during the course of the accounting period so the statutory provisions are specific as to the records that must be kept of the transactions giving rise to that liability.
a) all wages sheets, deductions working sheets, documents completed under reg. 46 (Form P46) (other than those which the employer has sent to the Inland Revenue), and other documents and records relating to:
(b) all documents and records relating to any information which an employer is required to provide to the Inland Revenue under reg. 85 (Forms P11D and P9D).
Traders who are registered for VAT must, by law, keep a VAT account. They must also keep business and accounting records but it is left to them to decide what is required for their particular business.