We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

P60's - Retention Periods

shaz77_2
shaz77_2 Posts: 1,881 Forumite
in Employment, jobseeking & training
Hi All,

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

Thanks in advance

Comments

  • tactful
    tactful Posts: 59 Forumite
    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
    PlutoinCapricorn Posts: 4,598 Forumite
    Part of the Furniture Combo Breaker
    I would scan them just in case.
    Who having known the diamond will concern himself with glass?

    Rudyard Kipling


  • Evilm
    Evilm Posts: 1,950 Forumite
    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
    Owain_Moneysaver Posts: 11,393 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    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.
    A kind word lasts a minute, a skelped erse is sair for a day.
  • McKneff
    McKneff Posts: 38,857 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    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.
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
  • adolphin10
    adolphin10 Posts: 63 Forumite
    Part of the Furniture 10 Posts
    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
    sammyjammy Posts: 8,123 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    As a hoarder I have 21 years worth of payslips and P60s, I wouldn't recommend it :D
    "You've been reading SOS when it's just your clock reading 5:05 "
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 353.7K Banking & Borrowing
  • 254.2K Reduce Debt & Boost Income
  • 455.1K Spending & Discounts
  • 246.8K Work, Benefits & Business
  • 603.2K Mortgages, Homes & Bills
  • 178.2K Life & Family
  • 260.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture