If your business sells or imports luxury cars, you need to record your sales and import transactions so you can report your luxury car tax liabilities accurately and substantiate any adjustments, credits or refunds.

How long you need to keep luxury car tax records

You need to keep these records for five years, starting from when you prepared or obtained the records, or when you completed the transactions the records relate to, whichever is later. 

You should keep records long enough to cover the period of review (also known as the amendment period) for an assessment that uses information from the record.