Although there are rules requiring the retention of certain records for certain periods, and although some of those may be less than six years, we would generally recommend keeping all prime business records for a minimum of six years in order to meet the requirements for general tax and VAT purposes (unless specifically required to be kept for longer). The prime records would include book-keeping, sales and purchase invoices, bank statements, payroll records and VAT returns together with their detailed workings.


The specific legal requirements for the retention of records are:










Information provided by the Institute of Directors

______________________


How long to keep business records