How long should i keep p11d

You should not rely on this information to make or refrain from making any decisions. Always obtain independent, professional advice for your own particular situation. Treat yourself or a friend to a monthly mix of intelligent opinions, fascinating features and exclusive offers. Get FREE advice and all you need to know about equity release. Search Magazine. How long should I keep old paperwork for?

If so, chances are you are hanging on to too much paperwork. So what do we need to keep for a lifetime? And what can go straight in the shredder? Cash in on clutter Sensitive data: shred or store?

So how do I get started? Go online One way to minimise financial clutter is to eliminate paperwork and do it all online. Ways to get a discount when shopping online For more tips and useful information, browse our money articles.

Related Articles Paying tax on money you give to children Guide to gifting property and tax Can you avoid care home fees? You should destroy yours if you have one but keep your photocard driving licence. However, paper-only driving licences issued before are still valid and must not be destroyed. Either keep hard copies in a locked box or store digital copies in a safe place. Make sure you keep a note of when your MOT is due for renewal as not all garages will remind you!

Keep evidence you have paid utility bills on rental property too. Make sure your filing system is clearly labelled - bank, utilities, travel , for instance.

Otherwise, make a note of when you need to review. Keep records of your business income so that you can fill in your tax return and for five years after the 31 January online tax return deadline. You need to keep the records for six years after the end of the relevant financial year.

Hire an accountant or business manager to help. Keep these records for five years. Type keyword s to search.

Today's Top Stories. You are legally required to keep records concerning your income and tax. It differs depending on whether you are employed or self-employed. The current time limits are given at the end of this document. You may have to pay a penalty if you don't keep records or if you don't keep your records for long enough. We only list the main documents here. If unsure we suggest you keep all documents concerning your income, savings and investments and tax paid.

Keep details of the income and rents you've received, and the expenses you've paid from letting out property. You must normally keep your records for another year after the online tax return deadline of 31 January.