Income Tax Records to Keep: 2026/27 Checklist and Time Limits

Updated for 2026/27. Keep enough records to show that income, deductions, reliefs and tax paid are complete and accurate. HMRC does not require one particular filing system, but records must be readable, secure and available for the statutory period.

Core personal tax records

• Payslips, P45s and P60s
• P11D or payrolled-benefit information
• Pension statements and contribution certificates
• Bank and building-society interest statements
• Dividend vouchers and investment tax reports
• Gift Aid donations and other relief evidence
• State Pension and taxable benefit notices
• Tax code notices, P800s and Simple Assessments
• Self Assessment returns, calculations and payment confirmations

Self-employment records

Sole traders should retain sales invoices, till or platform reports, bank records, expense invoices, mileage logs, stock information, asset purchases, payroll and VAT records where relevant. Records must support gross income as well as claimed costs. Platform reporting to HMRC does not replace your own books.

Property income records

Keep tenancy agreements, rent schedules, agent statements, mortgage-interest certificates, insurance, repairs, service charges, legal fees and ownership documents. Separate repairs from improvements and private use from letting use. Joint owners should document beneficial shares and transfers.

Savings, dividends and investments

Retain annual interest certificates, ISA subscriptions, dividend statements, fund tax vouchers and details of accumulated or equalisation income. For disposals, keep purchase and sale contracts, fees, corporate actions, reorganisations and historic valuations needed for Capital Gains Tax.

Foreign income

Keep overseas payslips, bank and investment statements, rental accounts, tax assessments, foreign tax payment evidence, residence records and sterling conversion calculations. Foreign tax credit relief requires proof of the foreign income and tax. Retain documents in the original language and obtain translations where needed.

Cryptoasset records

Download exchange histories and wallet records regularly. Record date, time, asset, quantity, sterling market value, fees, transaction type and wallet counterparties. Exchange accounts can close or limit old exports, so do not rely on permanent online access.

How long should records be kept?

For a Self Assessment return that includes self-employment or partnership business, records are generally kept for at least five years after the 31 January submission deadline. For many non-business Self Assessment records, the usual period is at least 22 months after the end of the tax year.

Late returns, enquiries, losses carried forward, assets held for many years, offshore matters and ongoing disputes can require longer retention. For the 2026/27 tax year, a self-employed taxpayer filing on time would normally retain relevant business records until at least 31 January 2033.

What format is acceptable?

Paper, scanned and born-digital records can be acceptable if complete, accurate and legible. Preserve the detail behind summaries. A bank statement may show that money moved but not the business purpose, VAT treatment or whether part was private.

Digital records and Making Tax Digital

Making Tax Digital for Income Tax starts from April 2026 for qualifying income above £50,000, extends above £30,000 from April 2027 and above £20,000 from April 2028, subject to eligibility and exemptions. People in scope must keep digital records and use compatible software for required updates and returns.

Digital links should preserve data between systems rather than relying on repeated manual re-entry where MTD rules require them. Maintain backups and test exports before changing software.

Security and backups

• Use multi-factor authentication and unique passwords
• Encrypt devices and sensitive archives
• Keep at least one independent backup
• Restrict adviser and employee access
• Remove access promptly when someone leaves
• Keep a recovery copy of software exports and filed returns
• Follow UK GDPR when records contain other people’s data

If records are lost

Tell HMRC where required, reconstruct figures from banks, suppliers, customers, payroll and platforms, and identify estimates on the return. Use reasonable methods and retain the reconstruction. Lost records do not permit unsupported claims or omission of income.

HMRC enquiries

HMRC can ask for records reasonably required to check a return. Organised evidence can shorten the enquiry and reduce the risk of penalties. Penalty behaviour considers whether reasonable care was taken, so contemporaneous calculations and advice are valuable.

Annual records checklist

1. Download statements and platform reports after 5 April.
2. Reconcile all income to bank and third-party records.
3. Separate business, property, investment and personal items.
4. Save calculations for allowances, mileage and mixed-use costs.
5. Archive the filed return and HMRC receipt.
6. Record the destruction date, extended for losses or open enquiries.
7. Test that backups can actually be restored.

Read HMRC’s official guidance on self-employed records and personal tax records. Our guide on reporting untaxed income explains what the records support.

Frequently asked questions

Do I need original paper receipts?

Not always, provided the digital copy is complete, legible and retained lawfully. Some documents may need originals for non-tax reasons.

Are bank statements enough?

Usually not on their own. Keep invoices and explanations showing source, purpose and tax treatment.

Can HMRC see my platform sales?

HMRC can receive third-party data, but you must still keep and reconcile your own records.

This guide is general information. Longer periods can apply to late, offshore or disputed matters.