Started with Paperless office
As a first step towards paperless office management, we have scanned all the tax files of our clients. All future correspondence and workings will be in PDF and attached to existing PDF files. We are using File Center software.
However, we are not sure what we should now do with the existing paper files. Should we just discard them, especially the ones which contain mainly the correspondence and other information which we would have in Excel/word or other software? However, there are important original documents in the files- P60s, P45s, dividend vouchers, bank interest certificates, CIS vouchers, Completion Certificates, mortgage agreements, HP and asset purchase documents etc. Originals of these may be required by clients. So I guess these will need to be removed and sent back to the clients. However, due to the high no. clients and files to go through, it is going to be a time consuming and costly task.
As per HMRC guidance, records need to be kept at least for 5 years from the end of filing date. On this basis, can we destroy everything up to 05/06 tax year, including the some of the above mentioned documents? We are shortly moving to our new premises where space is premium. Therefore we need to take a decision on what to do with the old records.
Furthermore, a lot of clients are now ex-clients. Do you think it is still necessary to scan their files?
We would like to hear the experiences and suggestions from other practitioners who have undergone this before.
- Pre- trading Expenses 71 1
- IRIS Practice Management 124 1
- Need qualification back due to clients' banks needing my references 231 7
- Was I rude 765 19
- Company overdue but wants to be struck off 176 5
- Dividend payments and shareholdings 165 3
- Corporation tax due date confusion 296 4
- You cannot be Serious!!! 240 1
- Top slicing relief question 230 2
- Valuation of PET on death 108 2
- Incorporation - any tax advantage? 263 6
- Share swap 289 8
- Non Registered trader selling to Malta 88 1
- Online filing 157 5
- Payment for goods received on last day of quarter but refunded the next - what options are open here? 329 13
- New client, prev accountant disappeared 1,711 25
- EC sales list and reverse charge 105 2
- Converting a barn for business use 98 1
- If an invoice is sent and paid does a contract exist 239 9
- Threshold for RTI submission 125 2
- Skandia using wrong address 1,477
- Nil Rate Band Trust - index linked debt by way of charge over property 812
- Any views 728
- International interest certificate 445
- Stamp Duty on share for share exchange 418
- Sale of business 388
- NOVA 282
- IRIS Open Books problem 280
- farming-related R & D tax relief claims 197
- Expenses claim for non employee 188