Vat how long to keep records

Bank statements and paying in slips. Cash books and other account books. Purchase and sales invoices. Credit or debit notes issued or received. Order and delivery notes. Records of daily takings. Documentation relating to imports and exports. Documentation relating to any special VAT treatment. Any relevant business correspondence. What is a VAT account? The account can be in any form as long as it shows the required information.

The figure should be the same as the on entered onto the other side Net over claim input tax from previous returns Certain parts of this website may not work without it. Please enable JavaScript for the best experience. Your choices on cookies This website uses cookies in order for our feedback functionality to work.

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It looks like the internet browser you are using is out of date. Please update your browser for the best experience. This section of the site is currently only available in English. VAT records to be kept Overview What purchase records do you keep? What sales records do you keep? Your customer may need a receipt for the cash payment under the VAT rules that allow cash accounting rather than invoice accounting. If asked, you must give your customer a receipt for the amount and date it.

If you have any feedback about this notice email: customerexperience. Do not include any personal or financial information like your VAT number. Find out how HMRC uses the information we hold about you. This page has been updated because the Brexit transition period has ended. Check what you need to do. To help us improve GOV. It will take only 2 minutes to fill in. Cookies on GOV. UK We use some essential cookies to make this website work. Accept additional cookies Reject additional cookies View cookies.

Hide this message. Home VAT. Contents Detail 1. Overview 2. Record-keeping rules for all VAT-registered businesses 3. VAT account 4. VAT invoices - the basics 5. VAT invoices - detailed rules Your rights and obligations Help us improve this notice Putting things right How we use your information. However, HMRC usually applies the time periods in the table above. This is as long as an inspector is able to determine the documentation necessary to provide a satisfactory audit trail.

If the integrity and legibility of the stored electronic records depends on a specific technology, then the original technology or an equivalent that provides backwards compatibility for the whole of the required storage period must also be retained. HMRC state that VAT records may be kept on paper, electronically or as part of a software program eg; bookkeeping software. All records must be accurate, complete and readable.

This article considers the record keeping deadline rules for VAT. Many records kept for VAT purposes will overlap with records for other taxes, and the detailed rules as well as the retention periods may differ.

Information on the record keeping requirements for other taxes is available in the following publications:. These are available on the HMRC website. In addition, there will be questions about why they have been destroyed.

Finally, it should be remembered for wrongdoing, there is no limitation period on debts to the Crown.