How long do you keep statements/bills for?

happyaslarry_2

How long do you keep statements/gas&electric bills for? I've got all from 2007 filed I trying to get ready for 2008 and I don't wanted to be snowed under with paper. I don't have the room to store long term.

I one of these "I won't throw it away just in case I need it later"
people". Learned this from my parents and they kept bills/recipts for years.

anna42hmr

i always used to keep mine for 2 years, but now i keep 12 months worth, unless i have bought something expensive/major on it, for instance i bough a digital camera a couple of years ago, whilst i was away in australia this year it was stolen

howerver i could not find the receipt (i bought it whilst on hols in america, and think i lost it when i was packing) thankfully i had the credit card statements listing where i bought it from and how much (thankfully the name of the shop was clearly a camera shop!) and the insurers agreed to pay out on that statement information even though i no longer had the receipt

Greenqueen_2

I always thought it was the norm to keep everything filed for SEVEN years.

happyaslarry_2

Thanks to both of you for replying. Greenqueen I thought it was 6 yrs that you had to keep these kind of things.

webtalk

why in heaven's name would you want to keep gas/electricity bills for 6/7 years? The tax man isn't interested in that unless they're business-related.

Ditto all credit card statements - unless you keep them instead of keeping receipts.

Bank/building society statements or anything else that reflects income/earnings/whatevercomesin are different as that is the sort of thing the tax man will be interested in if there's ever a query.

If you keep an electronic log of all expenditure then that's all you need otherwise isn't it (unless the items are in their guarantee period)? It'll also serve to demonstrate value of items should you have an insurance claim.

anna42hmr

Greenqueen wrote: »

I always thought it was the norm to keep everything filed for SEVEN years.

i had heard that but honestly how many people actually have the room to keep all credit card statements, bank statements and bills for 7 years! i know i dont, plus in a house hold of a family, it could be tonnes of paper, (by the time you count credit card bills, utility bills, council tax bills, mobile phone bills, current account and savings account statemente etc etc

and these days with many companies doing "online" statements as oposed to paper statements, many do not get them in the first place.

Forgetful

Can Martin verify on this???

PParka

I always keep 12 months of statements and bills.
I do it on a rolling basis, so at the end of Jan 2008 I'll shred all the Jan 2007 stuff.

One exception is reciepts for expensive items. I keep them just in case I ever need to make an insurance claim.

System

Companies/Government depts have to keep financial records for 6 years, but it doesn't apply to individuals.

I keep bills/receipts for 2 years, but tax papers I keep for 6 years as HMRC can go back that far.

Riq

I have my bank statements from 2002 to the present day.

teeni

I keep mine for five years and then clear them out. My mother in law bless her has all her receipts, bank statements, payslips, electric bills, gas bills, rent and subsequent mortgage statements (every type of paper work you can think of) back to the date of her marriage in 1939. everything is neatly stored and logged in filing cabinets in the attic. She has not moved since she left her parents home on her marriage, she rented this house and then bought off her ll when he wanted to sell, so has never had to move anything.

My husband and sister in law are dreading having to clear out after her days.