Umbrella receipts. Safe to chuck?

[Nitro]

Hey guys

When I first sorted contracting in September '14, I went via an umbrella company. I went limited in May of '15 and have been since.

I submitted all my expenses during my time when the umbrella on their own portal, and was paid accordingly. However, I still have stacks of receipts from this time.

I know you need to keep receipts for 3 years from the limited company, but is it really necessary for me to keep the Umbrella-era ones or can I safely chuck them?

[SlipTheJab]

Hey guys

When I first sorted contracting in September '14, I went via an umbrella company. I went limited in May of '15 and have been since.

I submitted all my expenses during my time when the umbrella on their own portal, and was paid accordingly. However, I still have stacks of receipts from this time.

I know you need to keep receipts for 3 years from the limited company, but is it really necessary for me to keep the Umbrella-era ones or can I safely chuck them?

Stick em in a box, stick the box in the garage/loft, sorted.

[SueEllen]

I know you need to keep receipts for 3 years from the limited company, but is it really necessary for me to keep the Umbrella-era ones or can I safely chuck them?

You heard of Sods Law right?

You chuck them then HMRC will decide that your umbrella company was dodgy and pick on you to investigate, OR there was something wrong with your self assessment, and fine you for not keeping records and will make up how much you owe them.

You keep them and HMRC will never darken your door....

[RSoles]

I thought it was seven years.
Added loft insulation......

[Nitro]

Fair enough, I'll keep them.

[TheCyclingProgrammer]

You only need to keep records for 22 months after the tax year they relate to. https://www.gov.uk/keeping-your-pay-...-your-recordsP

[TheFaQQer]

Get a ScanSnap S1300i and stick them through there. Save as PDF then get rid of the originals.

[Nitro]

You only need to keep records for 22 months after the tax year they relate to. https://www.gov.uk/keeping-your-pay-...-your-recordsP

Well, if you click on the "self-employed" bit it says "You must keep your records for at least 5 years after the 31 January submission deadline of the relevant tax year. HM Revenue and Customs (HMRC) may check your records to make sure you’re paying the right amount of tax."

But technically with an Umbrella company, I was employed.

[SueEllen]

Well, if you click on the "self-employed" bit it says "You must keep your records for at least 5 years after the 31 January submission deadline of the relevant tax year. HM Revenue and Customs (HMRC) may check your records to make sure you’re paying the right amount of tax."

But technically with an Umbrella company, I was employed.

Scan your receipts in as suggested and keep them on PDF.

Then if you ever need them for anything you are covered as you have a record of them.

[TheCyclingProgrammer]

Well, if you click on the "self-employed" bit it says "You must keep your records for at least 5 years after the 31 January submission deadline of the relevant tax year. HM Revenue and Customs (HMRC) may check your records to make sure you’re paying the right amount of tax."

But technically with an Umbrella company, I was employed.

There's no "technically". You were employed. Not self employed.

Keep your receipts if it makes you happy, but that's the official position.