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What should I do with my files and working papers

Data retention dilema

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I have closed down my practice and the company has been dissolved. What should I do with the working papers and data of my passed clients? Due to the nature of the services I offered in some cases there was no requirement for another practitioner to take over the work, usually because the clients took the accountancy tasks in house. I have working papers, electronic data, copies of HMRC submissions, and permanent files.

GDPR indicates that I should destroy the data and paperwork as "no longer needed", but what about keeping it for 7 years incase anything is needed for an HMRC enquiry? 


Replies (6)

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Hallerud at Easter
11th Oct 2018 19:49

You surely do need it re potential claims, presume you took out run off insurance, I suspect insurer would expect you to have the necessary records in case of a claim.

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By Andywho is fed up
12th Oct 2018 08:34

But surely, the run off cover isn't relavent here as it is a company that provided the services, as the OP refers to the fact that his "company has been being disolved"?

As there is no longer the entity that provided the services, what would the fall back position be if an error was found in a few years time? Who would the disgruntled ex-client sue?

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Replying to Andywho is fed up:
12th Oct 2018 10:45

In some cases, particularly insurance matters, a court can order that a company be restored. A disgruntled ex-client could pursue that route.

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By johngroganjga
12th Oct 2018 09:22

I agree with DJKL. It’s not about HMRC enquiries. It’s about your insurance cover, and your defence against any claims.

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By David Heaton
12th Oct 2018 16:20

Try speaking to the ICO. You seem to have acquired a lot of personal data from the dissolved company, so presumably you need to register in your personal capacity, even though you will only ever use it if you need to defend a claim made against you in your personal capacity, which is not inconceivable if a disgruntled ex-client can't sue the company.

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By richardterhorst
17th Oct 2018 09:41

There was leak in the roof where you stored the paper. Shame.

Your computer also blew up with a short as it was old. Shame.

This what others have told me they did. Me, I am still working and my loft is filling up and I store on the cloud.

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