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Tax returns and documents

7 replies

FictionalCharacter · 30/01/2024 14:45

I’m sorting out papers that were used for tax returns in previous years - P60s but also statements from savings accounts showing the puny amounts of interest I earned in that year.
Can anyone advise how long I should keep these statements for? Some of them are from accounts I no longer have, and I don’t have access online to check (or never did in the first place).
I know HMRC sometimes check tax returns from previous years, and wondered how long I need to keep the “evidence”.

OP posts:
zurala · 30/01/2024 14:46

I believe it's six years

DeltaAlphaDelta79 · 30/01/2024 14:46

Ive just done mine and it says five years on HMRC website.

FictionalCharacter · 31/01/2024 15:23

Thanks both

OP posts:
Propertylover · 01/02/2024 19:05

If you have any pension contributions I would keep P60s until you claim your pension. It may seem a lot but it’s the one thing I have seen cause an issue 20 years later.

FictionalCharacter · 01/02/2024 23:01

Propertylover · 01/02/2024 19:05

If you have any pension contributions I would keep P60s until you claim your pension. It may seem a lot but it’s the one thing I have seen cause an issue 20 years later.

Interesting, thanks for that.

OP posts:
justdontknowwhat2doo · 01/02/2024 23:38

I assume statements can be ordered online if requested at a later date?

My employers send me my P60s and they get saved on my computer.

I do save all my 'paperwork' for 6 years, all goes in a big envelope and into a documents drawer in my loft.

aitchteeaitch · 01/02/2024 23:52

justdontknowwhat2doo · 01/02/2024 23:38

I assume statements can be ordered online if requested at a later date?

My employers send me my P60s and they get saved on my computer.

I do save all my 'paperwork' for 6 years, all goes in a big envelope and into a documents drawer in my loft.

You can't order statements online if the account has been closed. Same goes for things like utility bills if you change supplier.

I've worked in accounting since 1979 and I still believe that sometimes, paper records are better than going paperless. Aside from everything else, software changes so much that a document or backup saved 5 years ago might no longer be readable.

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