how long to keep bills/statements etc???

Gareth83

just wondring what teh general concensus is for keeping financial documents.

like payslips, bank statements, receipts, tax documents etc.

cheers

newmum1

I generally keep bills for a year, just in case of anything.

Mark7799

Most financial paperwork should be kept for six years.

digp

all docs should be kept for at least 6 years; anything relating to mortgages / land should be kept for at least 12 years

molotov_3

digp wrote:

anything relating to mortgages / land should be kept for at least 12 years

Also must keep hold of them whilst you own the land / are paying the mortgage :rotfl:

Dogjen

One thing that I have always found useful for bills,statements,pay slips etc is to scan them into my computer. Its quick and easy these days and it save's having loads of bit of paper kicking about the house that usually get lost (always the one you need). They can also then be kept forever.

meerustar

I'd keep them as long as possible ...

A freind of mine has left work recently as she was ill and tried to claim DLA benefits and they said she wasnt entitiled as she hadnt paid tax or NI for the past 4 years!!!!

She has been in the same job for 18 years and after a lot of phone calls, photocopying of pay slips etc, it seem the company she worked for had not paid tax or NI for the full 4 years. It's currently being sorted with the company being taken to court.

I'd make pretty sure with both the tax and NI from now on before I throw anything away ... you never know who's trying to scam you

auntyi

Agree, keep as long as you can.

If you do decide to bin after a few years, shred it!

auntyi

jos22

Scan them into your computer, you can then keep them forever. Don't forget the backup though.

Companies have limits on how long they must keep documents. Individuals can throw them away or destroy them (at their own risk) whenever they like.

rubix_76

It may seem excessive but I would keep all bank statments/bills stuff for 10 years, but anything related to pay (ie P60s and payslips) keep them all.

I've always been paranoid either the Inland revenue take too much tax, or my employer may not pay enough like the case given by meerurstar.

If you over pay tax, I think you only get so many years to claim it back, but if you owe it, I think they can go back to year dot !!! (I may be wrong on that)

Rubix

carpool72

Keep utility bills for a couple of years too - I was advised 1 year, so chucked all the older ones, then switched supplier & when I thought my bills seemed too high didn't have much of a pattern to compare them to.:doh: