Keeping tax papers after death

Kess

(Apologies if this is the wrong forum but I can't see where this question best fits.)

My father died six months' ago and we've now finished sorting out his affairs, getting probate, filled in the R27 form etc.

My mother wants to tidy the house and get rid of all his old paperwork, such as bank statements and P60s, whereas I'm inclined to hang on to stuff from the last few years just in case HMRC raise any queries.

Does anyone know how long one ought to hold on to bank statements and tax papers after a person's death?

getmore4less

I think once HMRC are happy with the final return, and any adminstation returns then you pobably don't need them

If you pull it all together and only keep the essentials it will probably fit in one file. I would keep them just in case something turns up.

HMRC probably won't bother you but what about something like the PPI claims(just an example) could probably be done retrospectifly.

At some point you have mums estate to deal with having te older record might be handy.

I would keep it along with the final estate accounts and deal with it all sometime later.

sleepless_saver

HMRC website says how long you should keep deceased's tax documents. See link for this.

In any case, I'd hold on to the tax returns for a bit yet. HMRC are still looking at overpayments and underpayments for back years and could come back at a later stage.

John_Pierpoint

If there is any question of claiming a transferred nil rate band for IHT then I would keep them for ever.

Thank goodness I still had my Dad's dad's papers from 1967 - they saved, my sister and me, a 6 figure sum in InHeritance Tax, when mum eventually died too.

You have no idea what future changes in taxation might do to mother's tax liabilities.

Even tidy houses have a loft?