Website of the UK government

Basic records you must keep

Income from employment

You should keep documents containing details about your pay and tax that your employer provides, including:

• your P45 - keep part 1A of this form
• your P60 - pay and tax details for the tax year
• details of your expenses and benefits, such as a company car or health insurance - your employer will give you these using form P11D
• your payslips or pay statements
• certificates for any Taxed Award Schemes
• information about any redundancy or termination payment

You should also keep:

• a record of any tips or gratuities and details of any other taxable receipts or benefits that aren't included in any other documents - if your employer pays your tips or gratuities through a tronc system they operate, they'll deduct any tax and National Insurance due
• Information about benefits in kind - for example meal vouchers - that you receive from anyone other than your employer in connection with your employment

Expense records

When you're employed you may be able to claim for expenses to reduce the tax you'll have to pay. You'll need to keep records so you can include the expenses in your Self Assessment tax return.

• More about tax relief for business expenses

Benefits records

You should keep any documents relating to:

• social security benefits
• Statutory Sick Pay
• Statutory Maternity Pay
• Jobseeker's Allowance

Pension records

You should keep:

• your form P160 (part 1A), which you received when you retired and started getting a pension from your former employer
  your form P60 giving details of your pension and the tax deducted
• any other details of a pension and the tax deducted from it

Interest, dividends or other income from UK savings, investments or trusts

You should keep all:

You should also keep:

Income from property

If you get income from letting out a property, you'll need to keep details of the rents you've received and the expenses you've paid.

• Record keeping for landlords

Foreign income or gains

You'll need to keep any dividend vouchers, tax certificates and personal financial records.

• Details on records relating to foreign income or gains Opens new window

Income from employee share schemes or share-related benefits

You should keep information on any share options awarded or share participation arrangements.

• Details on records relating to shares Opens new window

Capital gains or capital losses

You'll need to keep contracts and other documentation about assets you've bought, sold, exchanged, given away or acquired. You should also keep any bills, invoices or other evidence of payment such as bank statements and cheque stubs for the costs of buying, improving or selling assets - as well as copies of any valuations used in your calculations.

• Further details on record keeping for capital gains or losses Opens new window

Business income or income from self-employment

If you're self-employed or in business there are certain records you legally have to keep. There are also good business reasons for keeping good records.

• Record keeping (self-employed) - find out more Opens new window

• Record keeping (partners and partnerships) - find out more Opens new window

How long must you keep your records?

If you're not running a business you'll normally have to keep your records for at least 22 months from the end of the tax year to which they relate.

It's advisable to keep documents relating to buying or improving assets until at least 22 months after the end of the tax year in which you disposed of the asset. These documents will help you calculate any capital gains or losses and answer any queries HM Revenue & Customs (HMRC) has.

For example if you dispose of an asset in February 2008 you must keep any records relating to its purchase, improvement and disposal until after 31 January 2010.

If your records are lost or destroyed

If your records are lost or destroyed and you can't replace them you must tell HMRC what has happened and do your best to recreate them.

Once you've gathered replacement information you use this to complete your tax return. You must tell HMRC whether any provisional figures are:

• estimated figures - you want us to accept these as final figures
• provisional figures - you are using these until you can confirm the figures (you must tell HMRC when you will be supplying actual figures)

If you make adjustments at a later date and you've underpaid tax there may be interest and penalties to pay.