How long do you keep records?

[Jayne]

Hi,

I'm sorting out old paperwork. How long exactly do you have to keep receipts/books etc. I've got them from 12 years ago for Tax and Vat, can I chuck some yet? My attic is getting quite full of junk!

Oh and do I have to keep all those till rolls if the takings and VAT is recorded in my books and the accounts have been done?

Thanks

Jayne :D

[Eagle]

Six years isn't it? I keep mine for at least that time.

[Jayne]

I've been told all sorts of different things. One said 10 years and another said 5, so I'm a bit unsure and I'm sick of seeing blinding paperwork all over the house, so I'm going to have a spring clean.

Thanks

Jayne

[Rachael]

According to the workshop I attending the other day you've got to keep your paperwork for 5 years.

[Jayne]

Oh I hope so, I've got years of paperwork i'll be able to chuck away.

Jayne :D

[KM-Tiger]

Yes, for tax and VAT purposes it's 5 years according HMRC website:-

http://www.hmrc.gov.uk/startingup/keeprecs.htm

But there is an exception to this rule. If you have Employer's Liability insurance, you are supposed to keep the certificates for 40 years!

[Jayne]

That is good news, think I'll need a bonfire to get rid of it all. :D

Thank You

Jayne

[mumper]

Come on Jayne admit it, you only kept all your old paperwork because you're from Yorkshire and didn't want to throw it away :wink:

[KM-Tiger]

That is good news, think I'll need a bonfire to get rid of it all.
Not environmentaly friendly that, recycle surely, or maybe you can sell the waste.

What's that old Yorkshire expression: "Where there's muck there's brass"?

[Alpha]

Jayne

Its five years following the year in which the accounts are produced for.

[Jayne]

I'm up to my 13th year Alan, so I can chuck a good 6 years away :D

I don't like putting paperwork in the bin, not even shredded. Burning is the only way to get rid of everything without the criminals getting it. I read that burning paper doesn't harm the ozone layer, a green fuel is paper blocks instead of coal.

And yeas it's true, where theirs muck there's brass and it's also true I don't usually throw anything away. I'm just running out of space, I've only got a little house, I used to keep it all at the bakery and now I have to make room for it here.

I need a bigger house :lol:

Jayne :D

[VeryMark]

Keep anything you need to rely on for copyright, design right or trade mark purposes, don't throw it away.

[Jayne]

Don't have anything like that for the bakery. It's all boring stuff like cash and carry receipts and flour bills.

What gets me is, everyone goes on about waste, yet the xxxx supplier people will send a duplicate delivery note, invoice statement etc and often companies have advertising stuff in the envelope too. You end up with sometimes 6 bits of paper telling you the same thing. Why not just send one small bill, wasteful buggers.

Thanks for the info' Philip :D

Jayne

[Astaroth]

We keep things to do with accounts for 6 years from date of creating

Customer correspondence for 3 years from date of receipt

Contracts or information relating to for 6 years from date of the end of the end of the contract

Marketing, board papers etc indefinately

It is (for us) as important to destroy records when you can as much as it is too ensure you keep it long enough