Paperwork - how long do you keep it?

MissMuppet

I'm probably posting this on the wrong board but couldn't find anything to answer my question...

I have stacks of paperwork - bank statements, pay slips, bills etc.. going back years! I would love to get rid of it!!

I intend to take a huge bag of the stuff to work on Tuesday to shred, how long should I keep stuff??

Thanks!!

chalky_bertie

Mrs chalky_bertie is currently trying to get me to throw out some of my "so called" rubbish. I have a shredder but still have bank statements from 1990 and just carn't get myself to do it just in case something bad did happen.

MissMuppet

I need to de-clutter my life so I would love to shred all this old stuff, I think I still have piles of paperwork at my Dad's because his partner wouldn't let me chuck it out! :snow_laug

JAMIEDODGER

i keep bank statements etc for 12 months then bin them!

Dora_the_Explorer_5

I think most stuff can be destroyed after seven years, someone will correct me if I'm wrong .
The urge to hang onto stuff like this just to be on the safe side can be quite strong, my solution is to bag it and shove it in the loft :j

SammyD_2

I keep stuff forever - but put it in the loft. It is amazing what you sometimes need. I made an insurance claim on an item I had lost, but the reciept was long gone - however I could point to the cheque withdrawal on my bank statement that I made when I paid for the item five years previously and this was accepted.

And my Mum was trying to prove "continuous residence" for visa purposes (immigration visa that is, not credit card). She had to pull out old electricity bills, bank statements etc stretching back well over 10 years.

Not the right answer for decluttering I know!

erb

I keep the last 12 months bank statements, credit card receipts/statements, bills etc. As a new one comes in I burn the one received 12 months ago. As they are all filed in a filing cabinet under the various headings this is easy. Once I have checked them on arrival I usually have no need for them again.

The only exceptions to this are receipts for things under guarantee which are kept for the guarantee period and of course any documents needed to prove ownership of investments until they are sold.

Oh and my papers supporting tax returns are kept for 6 years as I believe this is how long the Revenue can go back if they wish to.

Mark7799

Recommended period for financial paperwork is six years for bank statements and six years after the end of any financial agreements

vansboy

Are you - or likely to be self employed??

If YES - then keep EVERYTHING forever.

The 6 year rule is correct for normal practice - but then if theInland Revenue wanted an investigation, into your affairs, they can go back as far as they like!!

VB

CharleneUK

5 years usually.

However, I have been getting rid of bank statements after a year as they are all stored online.

MissMuppet

I guess I will judge each sort of paperwork individually... I have it all here in front of me, just need to work up the motivation to do it! :snow_laug