How long to keep payslips for?

flutterbyuk25

Hey all

Sorry this has probably been asked before, but how long should I keep past payslips for?

Do I need to keep 7 years worth? Or can i just keep my P60s for the year instead?

Many thanks

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CCFC_80

flutterbyuk25 wrote: »

Hey all

Sorry this has probably been asked before, but how long should I keep past payslips for?

Do I need to keep 7 years worth? Or can i just keep my P60s for the year instead?

Many thanks

x

Why keep 7 years???.I usually only keep one years including P60 incase I need to claim a tax refund,

p00hsticks

andy46 wrote: »

Why keep 7 years???.I usually only keep one years including P60 incase I need to claim a tax refund,

HMRC can go back up to seven years when looking at over and underpayments, which is why seven years is often quoted asd the period of time you should keep any financial records for (not just payslips, but bank statements etc too).

Your P60 is also your proof of how much NI you have paid, which I personally like to keep just in case I find that when I get to pensionable age the governments idea of my contributions doesn't agree with mine.

sammyjammy

I still have the payslips from when i started work 21 years ago but then I'm a horder so I would say thats not strictly necessary............:D

flutterbyuk25

sammyjammy wrote: »

I still have the payslips from when i started work 21 years ago but then I'm a horder so I would say thats not strictly necessary............:D

Well that's kinda why I'm asking! I've got ones back from my first Saturday job aged 15 and I'm 28 now. So not as bad as you! But they are just taking up space, and the first company I worked for doesn't even exist anymore!

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DVardysShadow

andy46 wrote: »

Why keep 7 years???.I usually only keep one years including P60 incase I need to claim a tax refund,

It does seem to have become quite common to chase people for alleged overpayments of salary in jobs which they have left. So I would say keep them for 7 years, as an alleged debt can be brought before a court for 6 years.

getmore4less

They don't take up a lot of room,

I have kept all mine, over 30years worth in one box file.

You could scan them but beware that long term media is an issue you ned to keep backup and move it to new formats,

Paper is still one of the best

moneypuddle

Are they huge or something?!?! I keep all of them.

leopard85

I have all my pay slips since I started work too. I started stashing them in a box and just never stopped or sorted through them.

flutterbyuk25

I don't have much space in my flat! And I have been sorting out paperwork today so thought I could get rid of some, but guess I'll keep them

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