How Long to Keep Records

[Clare@InTouch]

Insurance certificates? Never kept mine, just got the receipts. I take it you mean professional indemnity insurance?

Exactly, just in case someone comes back and sues you a few years down the line. Presumably these days it's a lot easier to get copies from the insurers themselves though, given that they probably have copies on file. I'll see if I can find where I got that from...

Since 2008 there's been no requirement to keep Employer's Liability certificates though.

[pacharan]

The length does depend on which tax you're looking at, so a standard 7 years is a safe bet. Insurance certificates I believe have to be kept indefinitely (20 years rings a bell).

Keep in mind that you can scan the records and keep soft copies if you'd like, saves having boxes and boxes of paperwork sitting in the attic. It also stops records from fading over the years.

Insurance certificates? Never kept mine, just got the receipts. I take it you mean professional indemnity insurance?

[Clare@InTouch]

The length does depend on which tax you're looking at, so a standard 7 years is a safe bet. Insurance certificates I believe have to be kept indefinitely (20 years rings a bell).

Keep in mind that you can scan the records and keep soft copies if you'd like, saves having boxes and boxes of paperwork sitting in the attic. It also stops records from fading over the years.

[LisaContractorUmbrella]

Info from HMR&C here: CH14100 - Record Keeping: How long must records be retained for: General

HTH

[pacharan]

Always thought it was 6 years.

I increasingly see 7 years being banded about on various tax advice sites.

Does the number of years they can go back depend on the type of investigation i.e. company tax affairs vs self assessment?