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.
- is photo id necessary to set up a direct debit? 299 14
- Is this dodgy? 237 7
- Directors loan balance write off in period 34 2
- The importance of Grammar 141 4
- Can I claim VAT back on accounting fees? 128 5
- New Client - incorrect accounts filed 229 6
- How to claim CIS refund for limited company that 223 5
- Copies of every transaction can't be OK!! 306 6
- Its going to be fun isnt it? 951 13
- Car or Van - BIK not VAT 453 14
- Sole Trader 166 3
- 2 businesses again. 1 with vat, one without 2,669 51
- Non Resident Landlord Tax 155 3
- Class 4 Losses 208 4
- Tax Codes and VAT 79 1
- Entrepreneur Relief - inter company shares 84 1
- Issue shares to shareholders 145 6
- How long should one give Aweb … 887 14
- AIA for a Van, Self Employed 338 3
- Why does Aweb always take the nuclear option … 2,338 51
- Any knowledge of salesorder.com 348
- Chart of account segments; Balance sheet vs P&L 284
- HMRC RTI Filing Problem 262
- Goodwill and the Summer 2015 Budget 262
- Could and would anyone here carry out a hot file review of some non statutory audit work please? 250
- Electric Car 206
- S222 Charge 194
- What is the best acounting software for online international retail business? 180
- Foreign Tax on Pensions 180
- Freelance Accounting link 169