How long to keep invoices,etc.

[sheepwise]

Having a tidy up in the office. Legally how long due you have to keep invoices,bank statements,etc. Got them all going back 15 years here and could really do with the space.

 

[ollie989898]

Having a tidy up in the office. Legally how long due you have to keep invoices,bank statements,etc. Got them all going back 15 years here and could really do with the space.

Take pictures or scan in using OneNote, save to OneDrive and shred them all?

 

[Ramrod]

Believe 7 years

 

[Derrick Hughes]

Are they all paid

 

[sheepwise]

Are they all paid

 

[sheepwise]

Take pictures or scan in using OneNote, save to OneDrive and shred them all?

Could be near 5000 invoices!!

 

[Chasingmytail]

15 years! you must have space - I keep for 7 yrs but most go out around after 5.

 

[Sharpy]

Pretty sure that you must keep them for 7 years, (as already stated) then you can bin them. But insurance documents such as employers and public liability should be kept for ever, just in case someone who worked for you in say 2010 came at you claiming against you for chemical exposure etc. Only other exeption would be something with a seriously long warranty that requires production of the original receipt.

 

[curlietailz]

I still have them ALL.
in boxes in the storage
As far back at 1982
ha ha

 

[Highland Mule]

I still have them ALL.
in boxes in the storage
As far back at 1982
ha ha

We have almost 100 years more than that. Historical curiosity though - modern accounts go back ten years.

 

[ollie989898]

Could be near 5000 invoices!!

I wish you luck then!

 

[DeeGee]

Was always told six years then they can be binned, but check with your accountant.

 

[nick...]

Think it’s 6 years but I keep 7 to be safe.
Nick...

 

[Brisel]

5 years for field records for farm assurance, 7 for VAT. Health & personnel records ought to be kept for life as @Sharpy said, though GDPR technically prevents this.

 

[Highland Mule]

5 years for field records for farm assurance, 7 for VAT. Health & personnel records ought to be kept for life as @Sharpy said, though GDPR technically prevents this.

Don’t think it does - what’s the basis of your understanding?

 

[Brisel]

Don’t think it does - what’s the basis of your understanding?

I'm not allowed to keep job applicants' CVs on file beyond 3 years under GDPR. Perhaps I'm just extrapolating incorrectly.

 

[Highland Mule]

I'm not allowed to keep job applicants' CVs on file beyond 3 years under GDPR. Perhaps I'm just extrapolating incorrectly.

Suspect so - there are opt outs for GDPR and “legally required” is one of them. Employment records and H&S would fall into that, I’d reckon.

 

[Brisel]

Suspect so - there are opt outs for GDPR and “legally required” is one of them. Employment records and H&S would fall into that, I’d reckon.

Fair enough. Your knowledge of GDPR is better than mine

 

[Highland Mule]

Fair enough. Your knowledge of GDPR is better than mine

Had a training course last month for work.... ?

 

[Yonlass]

This explains it fairly well.....

How long should you keep your tax and accounting records for? - IT Contracting

However you decide to work as a contractor – via your own company, or an umbrella – or if you’re self-employed, you must keep your financial records safe.

www.itcontracting.com