Keeping evidence to support your tax return

Keeping evidence to support your tax return

Keeping evidence to support your tax return


What is this?

You have an obligation to keep appropriate records to support the information in your tax return. The software can store this information for you.


Why do I need to keep these records?

If HMRC reviews your tax return, they may ask to see the records to check that you completed it correctly. If you do not have sufficient evidence, then you may face penalties.


When do I need to do this?

YOUR TAX CIRCUMSTANCES DETERMINE HOW LONG YOU NEED TO KEEP YOUR RECORDS FOR:

  1. Individuals Not Carrying on a Business. You must keep your 2022/23 tax return records until 31 January 2025.

  2. Self Employed and Landlords. You must keep your 2022/23 tax return records until 31 January 2029.


THERE ARE NO SET RULES ON HOW TO KEEP YOUR RECORDS, WHETHER ON PAPER, DIGITALLY OR IN SOFTWARE. 

  1. If you prepare your tax return by connecting a dedicated bank account to the software, HMRC usually considers this acceptable record keeping. 

  2. You can go further and save invoices and receipts in the software and attach them to individual transactions. 

IF YOU DECIDE TO CLOSE YOUR ACCOUNT, WE WILL HOLD YOUR DATA FOR 30 DAYS TO GIVE YOU PLENTY OF TIME TO EXPORT THE DATA.


Need help?

If you are still unsure or need further help you can contact your accounting firm or our Digital Tax Software support team by submitting a ticket at the bottom of the page.


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