Quizzes & Puzzles0 min ago
old paper work
Please help i am moving out soon and so im having a bit of a sort out lately, my question is how long should i keep things like..
credit card,store card and bank statements
pay slips and similar?
Answers
No best answer has yet been selected by Gemma1984. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.By law everyone needs to keep records of their income, gains and expenditures so that they can complete a tax return if they get one.
For your personal tax affairs, you need to keep records at least until the position for a tax year is closed. In most cases this is deemed as 22 months after the end of the financial year.
The records to keep include those needed for income on your annual tax return, capital gains, and perhaps inheritance tax:
� bank statements
� building society record books
� cheque book and paying-in book counterfoils
� forms P60, P11D and P45 from your employment
� contract notes for the sale and purchase of assets such as shares, antiques
� documents recording loans made and received
� documents recording cash gifts made and received
� betting win records
The only reference to a change in the guidelines SABK8 of June 2004 is Tax Bulletin 76 of April 2005 which makes no mention of record keeping.
What is your source for another set of guidelines?