Investigations - How long should you keep your records?

[Ruprect]

No I was referring to the context of an IR investigation. See here:
http://www.hmrc.gov.uk/pdfs/sabk4.htm#a2

Moscows link defines a 3 year period - but for a different purpose.

Ah OK. Thanks. Will go with the 6 year period then.

[Paddy]

A contractor mate of mine says you only need to keep full records for 3 years - this seems a bit low to me. Can anyone advise?

Until you have your first fire or flood.

[ASB]

No I was referring to the context of an IR investigation. See here:
http://www.hmrc.gov.uk/pdfs/sabk4.htm#a2

Moscows link defines a 3 year period - but for a different purpose.

[Ruprect]

Thanks All. ASB - Moscow's link above seems to contradict what you've said; were you referring to something else?

Cheers,

Rup.

[ASB]

A contractor mate of mine says you only need to keep full records for 3 years - this seems a bit low to me. Can anyone advise?

In terms of IR investigations it's 6 years. But if they discover fraud they can then go back 20 years. If you don't have those records it may be difficult to counter any allegations that are made.

[malvolio]

Well there you go. Thanks.

[Moscow Mule]

http://www.cipd.co.uk/subjects/hrpra...retrecords.htm

[malvolio]

I've always worked on 6 years for personal and company records, but I haven't checked lately, they may have reduced the requirement.

[Ruprect]

A contractor mate of mine says you only need to keep full records for 3 years - this seems a bit low to me. Can anyone advise?