This is an advertisement
Interested In Advertising? | Contact Us Here

Warning!

 

Welcome to Clean It Up; the UK`s largest cleaning forum with over 34,000 members

 

Please login or register to post and reply to topics.      

 

Forgot your password? Click here

simon w

  • Posts: 1647
How long?...................................................
« on: September 27, 2017, 07:41:03 am »
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

  • Posts: 758
Re: How long?...................................................
« Reply #1 on: September 27, 2017, 07:43:37 am »
HMRC wants 7 years records to be kept

simon w

  • Posts: 1647
Re: How long?...................................................
« Reply #2 on: September 27, 2017, 07:54:08 am »
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

  • Posts: 212
Re: How long?...................................................
« Reply #3 on: September 27, 2017, 07:55:54 am »
If the HMRC website says 5. I reckon 5 it is  ;D

simon w

  • Posts: 1647
Re: How long?...................................................
« Reply #4 on: September 27, 2017, 08:01:36 am »
If the HMRC website says 5. I reckon 5 it is  ;D
OP now edited to 5 years  8)

Arnold Palmer

  • Posts: 20800
Re: How long?...................................................
« Reply #5 on: September 27, 2017, 09:56:59 am »
It's 6 years.

5 years history + this year.
#aliens