How long do you need to keep paperwork for?

[IlanaK]

I am starting to pack up for moving house and we have loads of box files full of old bills etc. I would really like to not have to move them with us. How long do you have to keep them for? And is it different times for businesses as I sold a business and have paperwork relating to that too.

I think it's 7 years for business and 3 years for personal stuff, but that's probably if you have to deal with the tax man.

7 years? Urgh - that's a lot of paperwork to keep.

I wonder if there is somewhere to look this up.

Here?

Thanks, but that is an American site so not sure it is the same for us?

We keep 6 years' records. This is because after 6 years you can't be sued for anything - except in case of fraud or things under deed like mortgages (which we keep all docs for).

For most tax purposes the answer is here. For capital gains tax, you should keep all records relating to the asset from the date you purchased it.