Keeping your pay and tax records
Contents
- Overview
- How long to keep your records
You need to keep records if you have to send HM Revenue and Customs (HMRC) a Self Assessment tax return.
You’ll need your records to fill in your tax return correctly. If HMRC checks your tax return, they may ask for the documents.
You must also keep records for business income and outgoings if you’re self-employed.
How to keep your records
There are no rules on how you must keep records. You can keep them on paper, digitally or as part of a software program (like book-keeping software).
HMRC can charge you a penalty if your records are not accurate, complete and readable.
Lost or destroyed records
Try to get copies of as much as you can, for example ask banks for copies of statements or suppliers for duplicate invoices.
You can use ‘provisional’ or ‘estimated’ figures if you cannot recreate all your records. You must use the ‘Any other information’ box on the tax return to say that this is what you’re doing.
‘Provisional’ means you’ll be able to get paperwork to confirm your figures later. ‘Estimated’ means you will not be able to confirm the figures.
You may have to pay interest and penalties if your figures turn out to be wrong and you have not paid enough tax.
How long to keep your records
You must keep records about your business income and costs for longer if you’re self-employed.
How long you should keep your records depends on whether you send your tax return before or after the deadline.
HM Revenue and Customs (HMRC) may check your records to make sure you’re paying the right amount of tax.
Tax returns sent on or before the deadline
You should keep your records for at least 22 months after the end of the tax year the tax return is for.
Example
If you send your 2021 to 2022 tax return online by 31 January 2023, keep your records until at least the end of January 2024.
Tax returns sent after the deadline