Fiducia TogetherRecord keeping
What you must keep, and for how long.
Please note: This page explains what a term means. It is general information, not legal, financial, tax or investment advice, and it does not know anything about your business. Before you sign, file or commit to anything, check it with an accountant, a solicitor, or the official guidance we link to.
What it means
Businesses must keep accounting records, tax records and various statutory registers.
Why it matters
Failure to keep adequate records is an offence for a company, and in a tax enquiry the absence of records shifts the argument decisively towards HMRC's estimate.
What it looks like in practice
Broadly: companies keep accounting records for six years; sole traders keep tax records for five years after the filing deadline; VAT records for six years; payroll records for three years; and some employment and health and safety records much longer.\n\nDigital copies are acceptable for most purposes.
What to watch out for
Records lost with a departing bookkeeper or a cancelled software subscription. Export before you cancel — the data is yours and the access is not.
Where to get proper advice
Your accountant for the retention schedule, and the ICO on how long you may keep personal data, which pulls the other way.
Where to read more
Last reviewed 2026-08-28 by Fiducia Together · Next review due 2027-08-28
Please note: This page explains what a term means. It is general information, not legal, financial, tax or investment advice, and it does not know anything about your business. Before you sign, file or commit to anything, check it with an accountant, a solicitor, or the official guidance we link to.