Receipts / tax returns question

[sarah707]

A member wants to know which year tax information she can throw away please.

I am not 100% sure so I said I would defer to more knowledgeable folk :D

[christine e]

Well I had 7 years in my head but decided to have a look on hmrc website and found this

HM Revenue & Customs: Record keeping (self-employed) (http://www.hmrc.gov.uk/sa/rec-keep-self-emp.htm#5)

[Bambini2]

That's great news. I can now have a big shredding session :D and free up some space for other paperwork.

[sarah707]

Thank you Christine! So that's 5 years after the tax return deadline of the 31st Jan - that's the 31st Jan the year after the April accounts you are filing.

So that means keeping them for nearly 6 years then doesn't it... we are in 2012/13 tax year... we can shred... which year? :D

[christine e]

In the link mentioned above it uses the tax year 2012-2013 in their example and says you need to keep until 31 Jan 2019 - I think to be on safe side say 6 years

[miffy]

Well I had 7 years in my head but decided to have a look on hmrc website and found this

HM Revenue & Customs: Record keeping (self-employed) (http://www.hmrc.gov.uk/sa/rec-keep-self-emp.htm#5)

I have always thought you needed to have the current year plus the 6 preceding years - this seems to be the same except I would now get rid of the accounts in January instead of waiting for the tax year to end in April.

So after 31 January 2014 my 2007/08 records will hit the shredder, anything before that can go now!:D

Miffyxx

[Chatterbox Childcare]

I have always thought you needed to have the current year plus the 6 preceding years - this seems to be the same except I would now get rid of the accounts in January instead of waiting for the tax year to end in April.

So after 31 January 2014 my 2007/08 records will hit the shredder, anything before that can go now!:D

Miffyxx

I agree but I wouldn't shred until April as 31st March is the end of my tax year.

[Samijanec]

Really good info to know, I thought I had to keep mine for something like 25 yrs.. :s, glad that isn't the case..

[hectors house]

Where is Mr Anchovy these days - has he retired, haven't seen a reply on a post from him in months?