Key takeaways
- Sole traders and landlords must keep records for at least 5 years after the 31 January filing deadline for the tax year.
- Other taxpayers must keep records for at least 22 months after the end of the tax year (15 months if filing late).
- Keep records of all income, all business expenses, and evidence for any reliefs you claim.
- Records can be paper or digital, but sole traders and landlords in Making Tax Digital must keep digital records.
- HMRC can charge up to £3,000 for failing to keep adequate records.
Your tax return is only as good as the records behind it. HMRC does not ask to see records when you file, but it can ask later, and if you cannot back up your figures you may face extra tax, interest and penalties. Good records also make filing quicker and make sure you claim every expense you are entitled to.
How long to keep records
| Your situation | Minimum period | Example for the 2025/26 tax year |
|---|---|---|
| Self-employed or a landlord | 5 years after the 31 January filing deadline | Keep until at least 31 January 2032 |
| Other Self Assessment taxpayers, filing on time | 22 months after the end of the tax year | Keep until at least 31 January 2028 |
| Other taxpayers, filing late | 15 months after you filed the return | Depends on when you filed |
Keep records longer if HMRC has opened an enquiry, if you have made a claim that affects a later year (such as losses carried forward), or for capital assets you still own, where you need the purchase cost to work out a future gain. Property purchase records, for example, may be needed decades later.
What records to keep
Employment and pensions
- P60 at the end of each tax year, and P45 if you changed jobs
- P11D or payslips showing benefits in kind
- records of job expenses you claim, such as professional subscriptions or business mileage
- pension statements showing payments received
Self-employment
- all sales and other business income, including invoices, receipts and records of cash takings
- all business expenses, with receipts or invoices
- bank statements for business and personal accounts used for the business
- records of assets bought and sold, for capital allowances
- mileage logs if you claim simplified mileage or apportion vehicle costs
- any personal money paid into or taken out of the business
See sole trader bookkeeping for practical systems.
Property income
- rent received from each property, and agent statements
- expenses: repairs, insurance, agent fees, ground rent, service charges, utilities you pay
- mortgage statements showing interest paid, for the finance cost relief
- records of improvements and purchase costs, needed for Capital Gains Tax when you sell
Savings, investments and other income
- bank and building society interest statements
- dividend vouchers or investment platform tax summaries
- records of shares and other assets bought and sold, with dates and costs
- foreign income and foreign tax paid
Reliefs and allowances
- personal pension contribution statements
- Gift Aid donation records
- Child Benefit received, if the High Income Child Benefit Charge applies
Paper or digital?
Records can be kept on paper or digitally, including scans and photos, provided they are complete and legible. If you scan paper receipts, make sure the image captures all the details and keep the copies safely backed up.
If you are a sole trader or landlord in Making Tax Digital for Income Tax, you must keep digital records of each item of income and expense in compatible software. Supporting documents can still be on paper. See digital record keeping for MTD.
If records are lost or destroyed
If records are lost through fire, flood or theft, you should:
- try to recreate them, for example from bank statements, suppliers’ copies of invoices or your accountant’s files
- if you cannot, use provisional or estimated figures on your return and say they are estimates
- tell HMRC what happened
Penalties for poor records
HMRC can charge a penalty of up to £3,000 if you do not keep adequate records. More often, the cost of poor records comes through a compliance check: if you cannot support your figures, HMRC may estimate your income or disallow expenses, and add inaccuracy penalties. See HMRC compliance checks.
Frequently asked questions
How long should I keep my tax records?
At least 5 years after the 31 January filing deadline if you are self-employed or a landlord. Otherwise at least 22 months after the end of the tax year.
Can I keep records digitally?
Yes. Scans and digital copies are acceptable if they are complete and legible. Under Making Tax Digital for Income Tax, digital records are compulsory for the business transactions themselves.
What happens if I do not keep records?
HMRC can charge up to £3,000 for failing to keep adequate records, and may estimate your tax or disallow expenses if it checks your return.
Do I need receipts for every expense?
You should keep evidence for every expense you claim. A bank statement shows a payment was made, but an invoice or receipt shows what it was for.
Sources
Rates, thresholds and rules in this guide were checked against HMRC and GOV.UK guidance in October 2026. Tax rules change, so check the current position on GOV.UK or with a qualified adviser before acting. This guide is general information, not personal advice.