Bankrupt Business Records Inland Revenue

priglepop

Hi,

I had a small business in 2006 and went bankrupt in Feb 2007. Has anyone any idea how long I should keep the business records in case the Inland Revenue want to see them? I believe that normally records need to be kept for a minimum of 5 years.

Any advice would be appreciated, thank you.

rizla_king

HMRC say 5 so 6 to be on the safe side?

Heycock

Anything up to your bankruptcy is the property of the reciever and not yours to keep, so you only need to keep anything since then. Six years used to be the recommendation.

priglepop

Thanks for the replies.
I have been keeping the records in the cellar, (bit damp), but I think the time has come to get rid of these as too much space is taken by them. When push comes to shove I have held onto them for seven years now.

Thanks again.