Accounting Records 75. Mr. Cash asked the Chancellor of the Exchequer in what circumstances it is inteded to penalise traders trading within case I or case II of schedule D in respect of the maintenance of accounting records. Mr. Ian Stewart A recommendation that traders should be required to keep accounting records for tax purposes was made by the Keith committee, and a proposal to that effect is included in the consultative document "The Inland Revenue and the Taxpayer" published by the Inland Revenue in December 1986 in response to the committee's report. The proposal, on which comments have been invited, includes a financial penalty for failing to keep such records.