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whats the rule for

How long is it that records have to be kept.

For both :

 - client - business records(tax bookkeeping etc)

 - and provider of service - client records

Many thanks

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By johnt27
28th Mar 2012 15:47

The general rule of thumb is 6 years from the end of the tax investigation window for business records, whether held by the client or the accountant.

Things like liability insurance certificates should be held for a minimum of 20 years, although with Asbestos cases currently going through the courts for liability issues triggered in the 1940s even this may not be long enough!

The information commissioner stipulates what other client information may be held and how long for, especially after the relationship ends.

The Institute of Chartered Secretaries publish a really useful book in this area - http://www.icsabookshop.co.uk/disp.php?ID=821 

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