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A taxing problem

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Quisling:
Over the years I've accumulated a load of personal tax paperwork; coding notices, P60's, tax credit forms/awards/explanatory notices etc. Question is, what do I actually need to keep and for how long? Everything for 6 years rings bells - anyone have a clear view?

P60's make sense to hang onto forever since they confirm pension contributions, but old coding notices are probably only for interest/laughing at.

marcusjb:
I was thinking about this the other day as i got a notice (as I do every year, and I keep them) about having to submit a tax return.

I have a huge folder of coding notices etc.

HMRC seem to suggest you only need to keep the bits for a year (if you file in time etc.):

If you send in your tax return on or before 31 January

If you send in your tax return on or before the normal filing deadline of 31 January, you must keep your records for a further year after this deadline. This applies to both online and paper tax returns.

For example, for a 2010-11 tax return filed on or before 31 January 2012, you must keep your records until 31 January 2013.

However, you may need to keep them longer if a check has already been started - in this case you'll need to keep your records until HMRC writes and tells you they have finished the check.

http://www.direct.gov.uk/en/MoneyTaxAndBenefits/Taxes/SelfAssessmentYourTaxReturn/DG_10014923

marcusjb:
Oh, and of course now that I know I only need to keep this stuff for a year, I have approximately nothing about tidying out the filing cabinet of old tax letters etc.

I'll have to be very bored to want to do it.

I'll keep P60s and probably the statements that HMRC sends you confirming how much tax you've to pay etc. once you've submitted your return.

I reckon I've got stuff going back at least 10 years in there.

Greenbank:
One wallet folder per tax year, everything tax related goes in it. Done.

(I've done SA for 5 of the last 10 years and will have to for 2010/2011 thanks to payment in advance stuff.)

Quisling:
I don't even self assess, however I have multiple incomes from work and late MrsQ's pension so I seem to be recoded fortnightly so have huge wadges of paper. I might just get ruthless, scan anything that might be handy and just keep the last few years of stuff.

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