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How long do I need to keep tax records for HMRC?

You've submitted your tax return, your accounts are accepted, tax is paid. What should you do with all those invoices and receipts collected throughout the year?

Individuals not carrying a business need to keep their documents for at least 22 months from the end of the tax year to which they relate.

Sole traders and partnerships should keep their records for at least 5 years from

the 31st of January the following year. For example, if tax return for 2021-22 was submitted on time, you should keep all records related to it until 31st of January 2028.

Companies and those within the charge of Corporation Tax are required to keep their records for 6 years from the end of the accounting period. However, if a transaction covers more than one period or a purchase is expected to last more than six years, you need to keep the record for longer.

Remember, if you send your tax return late or HMRC started a compliance check, you should keep the records for longer.

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