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I'm trying to get my paperwork in order and I'm drowning in receipts, invoices and bank statements, both paper and digital. How long does HMRC actually require me to keep everything? Does the retention period differ for VAT records versus Self Assessment? And does it matter whether the records are digital scans or originals — once I've scanned everything properly, can I finally shred the paper pile?
The retention period depends on the type of record, so keep the longest applicable period rather than trying to split them up. For VAT purposes you must keep VAT records for 6 years (or 10 years for businesses using the VAT DIY housebuilder scheme or certain capital goods schemes). A limited company must keep its accounting records for 6 years from the end of the accounting period they relate to. For Self Assessment, keep your records for at least 5 years after the 31 January submission deadline of the relevant tax year — so for the 2025/26 return filed by 31 January 2027, that means until 31 January 2032. HMRC fully accepts digital copies provided they are complete, legible and readable, so once everything is properly scanned and backed up, you can shred the paper pile with confidence. Keep at least one off-site or cloud backup, because losing records in an enquiry can mean penalties and estimated assessments with no evidence to challenge them.
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