LINK / CITE ADD TO WORD LIST. noun. The definition of a statute is a written law passed by a legislature or decree by a ruler. When the legislature makes a law that establishes rules for a specific type of taxation, this is an example of a statute.INK / CITE ADD TO WORD LIST. noun. The definition of a statute is a written law passed by a legislature or decree by a ruler. When the legislature makes a law that establishes rules for a specific type of taxation, this is an example of a statute.
You should keep business tax records relating to a particular tax year for at least five years after that yearâs tax return deadline (31 January following the end of the tax year).For example, suppose you have chosen the calendar year (to 31 December) as the accounting period used for working out your annual profits.he tax return deadline is 31 January 2013 and the tax records should be kept until at least 31 January 2018. Non-business tax records should be kept for at least a year after the tax deadline. If you file your tax return late, the tax records should be kept for at least 15 months after the date of filing.
Unpaid tax liens remain for 15 years while paid tax liens remain for 7 years. Positive information may remain on a report indefinitely, and paid-for closed accounts generally display for 10 years. Requests for your credit history remain on your personal credit report for 2 years.