RECORD-KEEPING REQUIREMENTS

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.