Quick answer
Keep your Self Assessment records for at least five years after the 31 January deadline of the tax year they relate to. Limited companies must keep theirs for six years.
5 years
Self Assessment records, counted from the 31 January deadline
6 years
Limited company and VAT records
£3,000
Maximum penalty per tax year for inadequate records
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The basic rule
If you are self-employed, a landlord or otherwise file a Self Assessment return, you must keep the records behind it for at least five years after the 31 January online filing deadline for that tax year. The period runs from the deadline, not from the end of the tax year and not from the day you actually filed, even if you filed early.
For the 2025/26 tax year the online deadline is 31 January 2027, so the records should be kept until at least 31 January 2032.
| Tax year | Filing deadline | Keep records until at least |
|---|---|---|
| 2022/23 | 31 January 2024 | 31 January 2029 |
| 2023/24 | 31 January 2025 | 31 January 2030 |
| 2024/25 | 31 January 2026 | 31 January 2031 |
| 2025/26 | 31 January 2027 | 31 January 2032 |
Why the period is that long
The retention period matches the time HMRC has to check your return and the time you have to correct it. The time limits depend on how an error happened:
12 months
HMRC can normally open an enquiry within 12 months of the date you file.
4 years
Discovery assessments for an honest mistake, and the time limit for most overpayment claims.
6 years
Discovery assessments where the error was careless.
20 years
Discovery assessments where HMRC believes the error was deliberate.
Having your records means you can support every figure if asked. Our articles on HMRC compliance check letters and what to do if HMRC opens an enquiry show how these requests appear in practice.
What records you should keep
£
Income
Sales invoices, till rolls, bank statements, platform statements, rental agreements and CIS deduction statements.
%
Expenses
Receipts, supplier invoices, mileage logs and records supporting any working-from-home claim.
+
Other income
Dividend vouchers, interest certificates, and P60 or P45 forms.
★
Reliefs
Pension contribution statements and Gift Aid receipts.
⌂
Capital items
Purchase and sale documents for property, shares and business assets, plus records of improvements.
Landlords and investors: keep purchase, sale and improvement records for as long as you own the asset, and for at least five years after the filing deadline of the year you dispose of it. They support your Capital Gains Tax figures.
Digital copies are fine
HMRC accepts scanned or photographed records provided they are clear, complete and can be produced when asked. Cloud accounting software keeps this simple and will matter more as Making Tax Digital for Income Tax rolls out.
- Keep one folder per tax year, with sub-folders for income, expenses and other records.
- Photograph paper receipts the day you receive them.
- Back records up to a second location.
- Keep a short note of how you worked out any estimate.
Penalties for missing records
Failing to keep adequate records can bring a penalty of up to £3,000 for each tax year. Missing records can also mean HMRC estimates your income, which is rarely in your favour. If you have already missed a deadline, our Self Assessment penalty calculator shows what you may owe.
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Frequently asked questions
Do I need to keep records if I filed early?
Yes. The five years run from the 31 January deadline, not from the day you filed. If you file in April for a return due the following 31 January, the clock still starts at the deadline.
Can I throw away receipts after filing?
Not straight away. Keep the receipts and the records behind each figure until the retention period has passed. Scanned or photographed copies are fine if they are clear and complete.
What if I have lost my records?
Tell HMRC, and rebuild what you can from bank statements, supplier accounts and platform reports. Where you cannot, use reasonable estimates and label them as estimates on your return. Penalties can apply if records are inadequate.
How long should landlords keep property records?
Keep rental income and expense records for five years after the 31 January filing deadline. Keep purchase, sale and improvement records for the property for much longer, at least until five years after the filing deadline of the tax year in which you sell, as they feed into the Capital Gains Tax calculation.
How long must a limited company keep records?
A limited company must keep its accounting records for at least six years from the end of the accounting period they relate to. Payroll records are normally kept for three years from the end of the tax year, and VAT records for six years.
Is there a penalty for not keeping records?
Yes. HMRC can charge a penalty of up to £3,000 for each tax year in which your records are inadequate, and it may estimate your income if it cannot verify your figures.
Don’t leave your tax return to the last minute. Avoid penalties, save time, and let an expert take care of it for you.
Official guidance
HMRC sets these rules. See GOV.UK: how long to keep your records and Self Assessment penalties. This is general information, not personal tax advice.
Free tools and related guides
Self-employed tax calculator · Landlord tax calculator · Do I need to file a tax return? · Pricing · All guides
