[simon w]

Do you keep your business records for. Receipts, bank statements etc etc ect?

I know HMRC say five years from the start of a tax year but do all sole traders and employers on here do this?

I've saved everything since 2004 all boxed up and in order but obviously taking up some room so will be sorting out everything pre five  years shredding and disposing of over the coming weeks.

Obviously keeping accounting books from the start of business for future reference and to help with a sale if I ever wanted to sell up.

[matthewprice]

HMRC wants 7 years records to be kept

[simon w]

HMRC wants 7 years records to be kept

Thanks for your input Matt. I always thought it was 6 years, just had a look on HMRC website and their saying 5 years?? your saying 7 years. So now very confused.com   

Whats others thoughts on this?

[Paul Wisdom]

If the HMRC website says 5. I reckon 5 it is 

[simon w]

If the HMRC website says 5. I reckon 5 it is 

OP now edited to 5 years 

[Arnold Palmer]

It's 6 years.

5 years history + this year.