how long do you keep documents for?

Quasar

I keep bank and credit card statements and utilities bills for 12 months only. Documents relating to my work as self-emplyoyed I keep for ten years. All else I feed to the shredder.

ali99

Just found one for £12.99 at maplin so that is a slightly better price!

buxtonrabbitgreen

I now keep everything. As at one time a few years ago i discovered through the accountant that I could have claimed the married mans tax allowance as my DH hadn't been working for 3 years. As I hadn't kept p60s I had a hell of a game and many long conversations with the tax office. I did get it eventually, and it was a few hundred pounds, but boy did I have to humble myself.
On the subject does anyone know how long I have to keep all the paper work from being an excecutor of a will. I don't want to get in trouble with the tax office again.
By the way, my filing system needs attention as everything gets put into a cupboard and the pile is getting very high.

nodwah

PasturesNew wrote: »

I kept everything. Every bill and every payslip I'd ever had. Every bank statement. Every insurance document. Everything. The damned lot.

Right the way back to the late 80s.

Then I had a bright idea: sell the house, give away everything I own to charity, move hundreds of miles away to a town I'd never even been to. And walk with just 2 pairs of jeans and a laptop. Finally a plan to justify getting rid of that mountain of papers.

So earlier this year I did it. And sat down and shredded the whole damned lot!! Marvellous feeling

So now, I've only got things going back 2-3 months. And this time looking to manage the paperwork overload a little better.

you're an inspiration! It must feel like a load being lifted:T

Olliebeak

Ex-OH was such a financial mess that when we split I kept EVERYTHING I ever got that was financial - payslips, bank statements, council tax bills, rent cards, gas/elec/water bills, receipts/guarantees for electrical items along with user manuals. Consequently, when I moved last Nov (18 years after leaving Ex-OH) I had an absolute mountain of paper work to go through. Much was consigned to the recycling (with names/addresses removed) but I have still kept CSA stuff, divorce records, payslips since the split (now 19 years but a celebration of my independence), bank statements, anything to do with my current job, anything to do with my current home, obviously birth certificates etc., receipts/guarantees for anything that is current.

The recycling box was so heavy that it could hardly be moved the week we left the old address.

Please remember when recycling to remove your names/addresses from EVERYTHING and shred where possible (but double check with your waste recycling place first to see if they accept shredded paper - not all do) - especially if it's anything financial. Things like that can be used to set up fake identities and those are VERY DIFFICULT to shake off.

floss2

buxtonrabbitgreen wrote: »

On the subject does anyone know how long I have to keep all the paper work from being an excecutor of a will. I don't want to get in trouble with the tax office again.

I would guess 6 years - I know my brother is planning to keep all the stuff from executing my mum's will for that long.

Olliebeak, I spent ages ripping addresses & bank details off things, they got shredded & everything else went into the blue bin. All our shredding is taken by my DF's employers to a confidential-waste comapny who incinerate it all, as it includes confidential stuff from sites he visits for his job.

lilrahi

Hi everyone,

I'm sure someone will tell me if I am posting this in the wrong section

I am sorting out my paperwork and doing trying to get all the papers I have in various places and putting them all into one place.

I want to know, as a guideline, how long do I keep certain things for, as I have papers dating from 2000.

So, how long do I keep:

bank statements
credit card bills
gas/elec bills
tax credit notifications
wage slips/P60s/P45s

Thank you for all the help. Being on this site actively for a month or so, you have inspired me to turn my life around. I am now more money aware, tidier, healthier and will hopefully be slimmer too!

Wish you all Happy New Year!

Gracie_1827

Depends if you're self employed or not, If you are, keep stuff for 6 years.
If not it's a personal thing, depending on your circumstances...if you have benefits they may require a year or 2
Bank Statements - try to go for paperless if you bank online, or just keep a couple of years at most.
P60's wages slips etc..I've got mine from the year dot because I find it helpful for CV's and it's interesting to look back.
Household bills, one year, but you may need more if you claim for certain things

FunkyFairy

Its recomended you keep paperwork for 7 years.

lilrahi

Thanks guys. I love how on this forum, you can get a response pretty much straight away.