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Financials

Discussion in 'General Chat' started by Storck, Jun 5, 2022.

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  1. Storck

    Storck Regular Starter

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    So there are a lot of intelligent people on here, might not agree with them on some stuff but still intelligent people.

    so the big question of the day is how long do I need to keep financial paperwork for.

    Was clearing out a cupboard today and found a load of old bank statements and other stuff.
    How long do I need to keep hold of them or can I just burn them all?
     
    #1 Storck, Jun 5, 2022
  2. bantam65

    bantam65 Important Player
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    If they are personal bank statements I don't think there is any requirement at all to keep them. They are just a record for you, aren't they?
     
    #2 bantam65, Jun 5, 2022
  3. Storck

    Storck Regular Starter

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    also stuff like wage slips and P45, P60
     
    #3 Storck, Jun 5, 2022
  4. bantam65

    bantam65 Important Player
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    Once again I think they're only for your reference (apart from possibly the most recent P60)
    I am however no expert on these matters.
     
    #4 bantam65, Jun 5, 2022
    Storck likes this.
  5. WilsdenBantam

    WilsdenBantam Squad Player
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    I’m not sure there are ‘legal requirements’ but good practice imo is:

    Bank statements - 12 Months
    Bills - 12 months
    Receipts - 3 years
    Wage related - 5 years

    I’ve never caught myself needing these things after that amount of time. Wage related you should be able to get from your previous employer if needed.
     
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    #5 WilsdenBantam, Jun 5, 2022
  6. Frank Castle

    Frank Castle Captain
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    You can get everything online now so there's no need to keep anything.

    I haven't had a paper wage slip, P60 or bank statement for well over 5 years now.
     
    #6 Frank Castle, Jun 5, 2022
    Craven Cottager likes this.
  7. Storck

    Storck Regular Starter

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    I know we can only get P60 back to when we went online for wage slips 3 years ago
     
    #7 Storck, Jun 5, 2022
  8. Tony Wilkinson

    Tony Wilkinson Squad Player
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    It's 6 years after close or sale of business...

    That includes purchase and sales invoices but bank statements are available on line for years..
     
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    #8 Tony Wilkinson, Jun 6, 2022
    Storck likes this.
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