Retention of Accounting Records and other documents

Purchase invoices and supplier documentation
DocumentRetention PeriodReason for retention period
Payments cash book or record of paymentsSix years from the end of the financial
year in which the transaction was made
Companies Act/Charities Act
Purchase ledgerCompanies Act/Charities Act
Invoice – revenueCompanies Act/Charities Act
Petty cash recordsCompanies Act/Charities Act and HMRC
Invoice – capital item10 yearsCompanies Act/Charities Act and HMRC
Successful quotations for capital expenditurePermanentlyCommercial considerations
Income/Monies received
DocumentRetention periodReason for retention period
Bank paying in counterfoilsSix years from the end of the financial
year in which the transaction was made
Companies Act/Charities Act
Bank statementsCompanies Act/Charities Act
Remittance adviceCompanies Act/Charities Act
Bank reconcilliationsCompanies Act/Charities Act
Receipts cash bookCompanies Act/Charities Act and HMRC
Sales ledgerCompanies Act/Charities Act and HMRC
Correspondence re donations/subscriptionsCompanies Act/Charities Act
Deeds of covenant/GiftAid declarationsSix years after the last payment made. 12 years
if payments outstanding or dispute regarding the deed
Data Protection Act
LegaciesSix years after the estate has been wound upData Protection Act
Personal Information
Personal Data/Post Book/Mail Order/Enquires/e-mailsImmediately 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
DocumentRetention periodReason for retention period
PoliciesThree years after lapseData Protection Act
Claims correspondenceThree years after settlementData Protection Act
Employers Liability insurance certificate40 yearsEmployers’ Liability (Compulsory Insurance Regulations) 1998
Accident reports and relevant correspondenceThree years after settlementData Protection Act
Other documents
DocumentRetention periodReason for retention period
Trustees/director/govenor minutes of meetings and decisions made as resolutions in writingMinimum10 years from the date of the meeting or from the date of passing aresolution in writingData Protection Act, Companies Act, Charities
Minutes of general meetings and members’ resolutions passed other than at a general meetingHistorical Purposes Permanently Minimum 10 years after the date of themeeting/resolution/decisionGloucestershire Family History Society, Companies Act, Charities Act
Annual accounts and annual reviewPermanentlyData Protection Act
Major agreements of historical significancePermanentlyData Protection Act
Investment certificatesPermanentlyCompanies Act, Charities Act
Health andsafety recordsThree years for general records. Permanently for records relating to hazardous sustancesPersonal 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 ledgerPermanentlyCompanies Act, Charities Act, Commercial
Fixed assets registerPermanentlyCompanies Act, Charities Act, Commercial
Contracts with customers, suppliers or agents, licensing agreements, rental/hire purchase agreements, indemnities and guarantees and other contractsSix years after expiry ot termination of the contract. If the contract is executed as a deed, the limitation period is twelve yearsLimitations Act 1980
Leases12 years after the lease and liablities under the lease have terminatedLimitations Act 1981
Menu