P60's - Retention Periods

shaz77_2

Hi All,

How long should P45's, P60's and weekly/monthly pay slips be kept for?

Thanks in advance

tactful

shaz77 wrote: »

Hi All,

How long should P45's, P60's and weekly/monthly pay slips be kept for?

Thanks in advance

If you are a business you need to keep for 6 years.

If you are an individual you are only required to keep them for approx 2 years (until the 31st of January anniversary after the year in question)

e.g 2011/2012 until 31st jan 2014.

PlutoinCapricorn

I would scan them just in case.

Evilm

I'd still keep them six full years - so six complete tax years prior to the current one. After that its irrelevant, before that and I believe over 3 years its unlikely to be an issue with HMRC but its good to have them anyway. Post #3 is a good idea if you can and have the spare harddrive space.

Owain_Moneysaver

shaz77 wrote: »

Hi All,

How long should P45's, P60's and weekly/monthly pay slips be kept for?

Thanks in advance

weekly/monthly payslips till you get your P45 and/or P60. The P45/60 should summarise and equal the cumulative totals on your payslips, so once you have the P45/60 you no longer need the payslips.

P45 and P60 I would keep for at least 6 years - and some employers now ask for a 5 or 10 year checkable work history, so the P45/60 are useful for that as well as for your tax records.

McKneff

Owain_Moneysaver wrote: »

weekly/monthly payslips till you get your P45 and/or P60. The P45/60 should summarise and equal the cumulative totals on your payslips, so once you have the P45/60 you no longer need the payslips.

P45 and P60 I would keep for at least 6 years - and some employers now ask for a 5 or 10 year checkable work history, so the P45/60 are useful for that as well as for your tax records.

Best advice above. Especially about discarding the payslips, once you have your p60 you really dont need them.

You wouldnt keep a p45 anyway, you would pass it on to your next employer.

adolphin10

McKneff wrote: »

Best advice above. Especially about discarding the payslips, once you have your p60 you really dont need them.

You wouldnt keep a p45 anyway, you would pass it on to your next employer.

Apart from the first page of the P45 which is yours. You keep that part and hand in the other pages.

sammyjammy

As a hoarder I have 21 years worth of payslips and P60s, I wouldn't recommend it