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How long to keep paperwork ???
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# 1
pagan705
Old 22-06-2006, 7:55 PM
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Question How long to keep paperwork ???

I've just spent hours sorting out all my paperwork & I still haven't finished yet.

Now I'm starting to wonder how much of I actually need to keep so does anyone know long long different documents should be kept ??

i.e bank statement, Tax stuff, utility bills, CC statements etc

Don't want to chuck things in the shredder that I should keep

Thanks


Last edited by MSE Martin; 27-06-2006 at 7:07 PM.
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# 2
Sea78
Old 22-06-2006, 7:57 PM
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hmmm...I was never that sure, now I keep things for 6 years!! Utility bills I onl keep for a few months after the account has been closed (I move a lot) and then ditch. I also keep tax stuff as you never know...

After reading some of the stories on here I will def be keeping all official & money stuff for 6 years.

Sea xxx
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# 3
elantan
Old 22-06-2006, 8:01 PM
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i got caught with the poll tax years ago had the bailiffs round to do a pinding but thankfully had kept all those reciepts (don't know why) and it saved me that day ...i'd kept them for 4 years ...i think 6 years is a good amount to save certain ones for.. but then how far back can these companies go ? i just don't know sorry
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# 4
amosworks
Old 22-06-2006, 8:16 PM
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2 decades to be on the safe side
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# 5
tanith
Old 22-06-2006, 8:28 PM
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If I kept all my paperwork for this long I would need another house to keep it all in....
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# 6
amosworks
Old 22-06-2006, 8:39 PM
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I have several R-Kive boxes in the loft, it makes it easier
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# 7
bluezone
Old 23-06-2006, 9:22 AM
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how sad am I - I've got all my bank statements from the year dot cos thats when I wasn't in the DR state!

CC statements I keep for approx a year unless I have bought something with a warranty etc
I got married on 18th July 2009 - I have 2 gorgeous boys born 17/09/10 & 14/08/12. I was diagnosed with aggressive breast cancer 08/04/13 which thanks to surgery now have new boobs and a flat stomach (always a bonus!) and am looking forward to a better year lol

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# 8
AlexWright
Old 28-06-2006, 8:55 PM
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As far as I know, you should keep your paperwork for seven years, and then shred it (so the tax man can't see the dodgy deals you have not been doing). Seven years being the time the Inland Revenue recommend.

A case in point at the moment is our neighbour who is fighting with Thames Water because (stay with me here) a resident of the flat she used to live in gave her name to Thames Water and then never paid the bill.

Thames Water saw that she'd lived there before, and BACKDATED the new account (opened fraudulantly) to when she first moved in (1998). They now claims she owes £1600!

And the first she heard of it is when the debt collectors came round... Thames Water now want to see proof that she has paid. As she threw away the bills, she doesn't even know her old account number!

The moral of the story: Keep those bills!
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# 9
123xyz
Old 28-06-2006, 9:30 PM
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[QUOTE=AlexWright]"As far as I know, you should keep your paperwork for seven years, and then shred it (so the tax man can't see the dodgy deals you have not been doing). Seven years being the time the Inland Revenue recommend."

Actually Amosworks is correct in the 2 decades as far as Inland Revenue is concerned.

We have just been advised by our accountants that following an investigation into last year's tax records (ha, ha they found nothing wrong as we are honest people) the Inland Revenue are now requesting 20 years of bookwork, WHICH THEY ARE ENTITLED TO DO! Accountants have put in a plea for 6 years but this depends on the goodwill of the tax office.

It seems that if they cannot find you have done anything wrong, they will keep on trying, like a dog with a bone.
At least I know my place, my place is in the wrong.

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# 10
Annie Fanny
Old 28-06-2006, 9:52 PM
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Quote:
Originally Posted by Sea78
hmmm...I was never that sure, now I keep things for 6 years!! Utility bills I onl keep for a few months after the account has been closed (I move a lot) and then ditch. I also keep tax stuff as you never know...

After reading some of the stories on here I will def be keeping all official & money stuff for 6 years.

Sea xxx
Sea - I would keep utility bills for much much longer. I was contacted by a DCA two years after I had moved out of a property. They wanted a sum of money presumably because the people who had moved in after me hadn't registered or paid the electricity bill. Thankfully I had evidence that we had paid as I had kept SOME of the paperwork. I now keep everything!
"Debt makes plans for you" - A quote from my friend Catherine. How true!
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# 11
kathfisch
Old 28-06-2006, 11:57 PM
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Oh definitely keep everything for as long as you have the space to store it

I remember a few years back, my mum needing to find evidence of her earnings going back 4 or 5 years (during which she's had times of working, some part time work etc and taxman got it all muddled ). Thankfully my dad is a hoarder and likes everything organised - 5 mins later he reappeared with all her payslips

At one point I opted to have my bank statements online only from HSBC but I'm reconsidering now because you never know when you might need proof in cold hard print! Am now struggling to prove address because online statements don't count, grrr!

Sorry, waffling......
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# 12
Nutty Netty
Old 29-06-2006, 7:45 PM
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I keep all paperwork for at least 6 years and store it in the loft. This is after having a run in with the benefits office. Two years prior I had for a limited time while my wages were very low claimed housing benefit (legally i must add) It was only for approx 8 months until my wages took me out of the entitlement range. TWO YEARS later they then decide that I wasn't entitled to it and could I prove that I was!!! Luckily I had kept some of my payslip envelopes and the letters from them confirming that they had agreed it. They were very apologetic when I produced them but I shudder to think what would have happened if I hadn't kept them!!!
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# 13
towseriv
Old 29-06-2006, 8:37 PM
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Quote:
Originally Posted by kathfisch

Am now struggling to prove address because online statements don't count, grrr!

Sorry, waffling......

You can ask the bank to print one of thier system and certify it as a true copy. In my experiance every time I have done this it has been accepted.
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# 14
kathfisch
Old 29-06-2006, 10:21 PM
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Quote:
Originally Posted by towseriv
You can ask the bank to print one of thier system and certify it as a true copy. In my experiance every time I have done this it has been accepted.
Thanks for the info!

I asked at my bank and they said they can give me a print out from the statement machine in the lobby (does not have my address on :rolleyes: ) or I could request one to be sent to me. Which I've done, but it takes 7 - 10 days. And given that I want it to prove to the post office where I live so that they'll redirect my mail since I moving next week, not a lot of help to me :rolleyes:

Apparently the cashier doesn't have a printer, grrr

But I might go in and challenge them on it if I don't get the statement tomorrow.

Anyone else any ideas or experience of this (I'm with HSBC) ?!
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# 15
charlotte££
Old 29-06-2006, 11:00 PM
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I got into problems when my partner was kill in a road accient and I was claiming for loss of earnings. we never kept anything all bills were paid and disposed of!!, that is a good time ago now and I have learnt my lesson well. I keep everything for 7 years before I shred them.
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# 16
Catseyez
Old 29-06-2006, 11:02 PM
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I've always been of the opinion that you 'just never know when you may need it'...with this in mind I kept all of my bank statments since my account opened...10 years later and I'm using them to claim back charges!

The old Girl Guide motto of 'Be Prepared' goes a long way!
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# 17
kathfisch
Old 29-06-2006, 11:06 PM
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Quote:
Originally Posted by charlotte££
I got into problems when my partner was kill in a road accient and I was claiming for loss of earnings. we never kept anything all bills were paid and disposed of!!, that is a good time ago now and I have learnt my lesson well. I keep everything for 7 years before I shred them.
Charlotte, I'm sorry to hear about such an awful situation for you to go through, I can't imagine what that must have been like (((hugs))) x

It is a good point though, its often at the most difficult times that we need things like paperwork :rolleyes: I always remember my dad telling me from a young age where important paperwork was in case anything should happen to him and mum Thankfully haven't needed it yet but worth thinking about I guess.
Don't stress, relax, let life roll off your backs. Except for death and paying taxes, everything in life is only for now... Avenue Q
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# 18
ziggy2004
Old 30-06-2006, 9:19 AM
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I keep most things! but will get rid of things after 2 years if I have a final bill to keep. eg I have a final utility settlemant for all the addresses I lived at but not the bills that were sent in between.

Also please never ever ever throw out your P60's!!!!!! After all the inland revenue works with a computer system and we all know what can happen to them!!!!

Anne
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# 19
enajaluap
Old 30-06-2006, 11:23 AM
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The company I work for has a destruction date for official documents of 7 years. So I'd say after 7 years, you're good to chuck 'em out
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# 20
Caramelwafter
Old 30-06-2006, 11:50 AM
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I don't keep anything for more than 6 months other than tax and legal stuff as I have nowhere to store it (no loft space and no spare room)
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