How long to keep payslips?

Mrs_Money

I've been trying to do a paper dejunk (credit card, bank statements) and will be shredding a load. I'm keeping 5 years bank statements and all my P60s, but how many year's payslips do people keep?
I want to get rid of as much as possible, but can't really work out whether to keep a couple of years or 5!

Jarndyce

If you have to do a self assessment then you should really keep them for 6 years. If not, then once you have your P60 for that tax year there's probably no need to keep them, unless you think you've been paid wrongly.

Mrs_Money

Thanks- yes, hadn't thought about the P60 being a record anyway. Well, that'll cut down the paperwork! I'm not likely to need to do a self-assessment so that's okay!

EconomicsGirl

I tend not to keep payslips or bank statements other than the latest ones (always check they are correct) and I keep my P60s. I also keep annual interest statements. Obviously if you have to fill in a tax return you'll need to keep them. Also if you're doing anything that requires ID (e.g. a new job, mortgage you may need a few) but other than that I've never needed them - for my new job I had to prove with bank statements I'ld been out of work so may be worth keeping those to cover a gap in the last 5 years. You can get copies of bank statements from your bank anyway.