RECORD-KEEPING REQUIREMENTS

Do you know how long you are required to keep your accounting records for? Find out here.

Failure to keep adequate accounting records can result in penalties, surcharges and interest.  The required lengths of time to maintain accounting records can be found below:


Self assessment: At least 22 months after the end of the tax year the return is for.


Unincorporated company accounting records: At least 5 years after the 31st January deadline of the relevant tax year.


Incorporated company accounting records: At least 6 years after the end of the relating company financial year.


Payroll (employee tax and NIC records): At least 3 years from the end of the tax year to which they relate.


VAT records: 6 years.