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.
- Samadian effect on self employed student support workers 171 4
- Changes to class 2 NIC's 188 3
- Are there Special Rules for Agencies? 356 8
- Client RTI Shows payments not his 146 4
- UK company paying dividend to foreign shareholder 146 3
- LLP as member of LLP 99 1
- Why should I retain membership? 2,750 48
- B2B vat in the EU 143 3
- Coding Notice 166 4
- Alerting clients versus walking away from clients 459 7
- Vat 286 7
- SA online - 4 hour limit 1,283 13
- Recharge for private use of a company car 198 3
- Funding Circle Servicing Fee 166 2
- Surprise visit from HMRC! 2,496 18
- CT/CIS offset 149 2
- Statutory accounts, current company address, or one that was correct at EOY? 198 4
- Trade name 197 3
- Musician - Allowable Travel expenses 146 1
- New business - journal entries 330 20
- Auto enrolment excuses 825
- Feedback on accounts production software for IFRS 711
- Add T&Cs to Sales Order in Sage 394
- Social investment tax relief 210
- Digita Hosted Software 206
- Call Centre Data Costs 195
- Buying goods in US and selling them to company in US 163
- Travel costs and contractors 159
- Problems with Sage 50 Payroll v21(2015) 150
- accounting for this transaction 147