How long do I need to keep Bank Statement for?

LilyMae_2

PLease could some one tell me how long I need to keep personal bank statements and business statements.

The business statements are for my husband who has passed away, business is no longer running and there is no tax outstanding. I have a letter from the inland revenue that states that.

Thanks

Gromitt

Personal bank statement I normally keep for a year.

Business bank statements, even if the company has ceased trading and has submitted a tank return, I'd keep until April 2013.

GlamGirlie

The Bank keeps statements for 6 years.

Some people do not receive statements at all, opting for a paperless internet statement instead.

I would say you don't need to retain paper statements at all.

alanq

I would not rely on online statements being available when you need them.

In the last couple of days I read a post here about someone who needed to view a statement for the beginning of the previous financial year. The bank did not make this available online and they were having to pay to obtain printed statements.

agrinnall

I would keep the business statements until 6 years after it ceased trading, obviously you can get rid of the older ones as they pass that date if you want to.

I keep my personal statements for even longer, for my main account I have them back to 1999 when I opened it. They don't take up a lot of room and you just never know when you might need one.

LilyMae_2

Thanks for your help, will find corner to keep them.