How long to keep receipts/bank statements

[WowOoo]

That's it really. I hoard all mine just incase but I want to burn the lot...

You should keep bank statements and anything remotely related to tax for 7 years: the current fiscal year plus the six previous years, because that is how far back the inland revenue can go if you or they query something.

Receipts: if they are part of a warranty, keep them as long as the warranty lasts; if it's a credit or debit card purchase, long enough to check against the statement.

Utility bills etc: probably a year to give to calculate annual expenditure, and any longer than that depends on if you want to look back and bewail the prices of years gone by

Ooops,gulps at Roskvas post having just had a cull and shredded all statements prior to 2006!!!

If necessary, you should be able to request copies of old statements from your bank, but some banks might charge you. If your income is all taxed on paye, then you probably woundn't need the statements, but if you have non-paye income then previous statements might be useful if you ever end up arguing with the inland revenue.

Roskva, just exactly what I needed to hear and more. I heart you!

Warranties/Receipts for big expensive items I keep anyway. Tech stuff, furniture, shoes....

Hope I don't have to argue with IN Rev again ever. This is the bit I hate as am not especially fab with Mathematics.

Ta.