Retention of Accounting Records and other documents
Purchase invoices and supplier documentation | ||
---|---|---|
Document | Retention Period | Reason for retention period |
Payments cash book or record of payments | Six years from the end of the financial year in which the transaction was made |
Companies Act/Charities Act |
Purchase ledger | Companies Act/Charities Act | |
Invoice – revenue | Companies Act/Charities Act | |
Petty cash records | Companies Act/Charities Act and HMRC | |
Invoice – capital item | 10 years | Companies Act/Charities Act and HMRC |
Successful quotations for capital expenditure | Permanently | Commercial considerations |
Income/Monies received | ||
---|---|---|
Document | Retention period | Reason for retention period |
Bank paying in counterfoils | Six years from the end of the financial year in which the transaction was made |
Companies Act/Charities Act |
Bank statements | Companies Act/Charities Act | |
Remittance advice | Companies Act/Charities Act | |
Bank reconciliations | Companies Act/Charities Act | |
Receipts cash book | Companies Act/Charities Act and HMRC | |
Sales ledger | Companies Act/Charities Act and HMRC | |
Correspondence re donations/subscriptions | Companies Act/Charities Act | |
Deeds of covenant/Gift Aid declarations | Six years after the last payment made. 12 years if payments outstanding or dispute regarding the deed |
Data Protection Act |
Legacies | Six years after the estate has been wound up | Data Protection Act |
Personal Information | ||
---|---|---|
Personal Data/Post Book/Mail Order/Enquires/e-mails | Immediately after processing or when no longer needed if the law allows. Memberships held on computer not renewed. 2 years from end of the financial year |
General Data Protection Regulations |
Retention of Accounting Records and other documents
Insurance documents | ||
---|---|---|
Document | Retention period | Reason for retention period |
Policies | Three years after lapse | Data Protection Act |
Claims correspondence | Three years after settlement | Data Protection Act |
Employers Liability insurance certificate | 40 years | Employers’ Liability (Compulsory Insurance Regulations) 1998 |
Accident reports and relevant correspondence | Three years after settlement | Data Protection Act |
Other documents | ||
---|---|---|
Document | Retention period | Reason for retention period |
Trustees/director/governor minutes of meetings and decisions made as resolutions in writing | Minimum 10 years from the date of the meeting or from the date of passing a resolution in writing | Data Protection Act, Companies Act, Charities |
Minutes of general meetings and members’ resolutions passed other than at a general meeting | Historical Purposes Permanently Minimum 10 years after the date of themeeting/resolution/decision | Gloucestershire Family History Society, Companies Act, Charities Act |
Annual accounts and annual review | Permanently | Data Protection Act |
Major agreements of historical significance | Permanently | Data Protection Act |
Investment certificates | Permanently | Companies Act, Charities Act |
Health and safety records | Three years for general records. Permanently for records relating to hazardous substances | Personal injury actions must be commenced within three years of injury. However industrial injuries not capable of detection within that period (e.g.Asbestos) the time period may be substantially extended |
Investment ledger | Permanently | Companies Act, Charities Act, Commercial |
Fixed assets register | Permanently | Companies Act, Charities Act, Commercial |
Contracts with customers, suppliers or agents, licensing agreements, rental/hire purchase agreements, indemnities and guarantees and other contracts | Six years after expiry ot termination of the contract. If the contract is executed as a deed, the limitation period is twelve years | Limitations Act 1980 |
Leases | 12 years after the lease and liabilities under the lease have terminated | Limitations Act 1981 |