Each year, you’ll probably have a lot of paperwork by the time you complete and submit your tax return: all your expenses, income statements, even down to small receipts for parking and possibly buying a pack of stamps several years ago! So how long do you need to keep records for?
At the end of the year, it is good practice to file all records into a folder and store somewhere safe. You are required by HMRC to keep your records for at least 5 years after the 31 January submission deadline for that tax year, therefore you may end up with a lot of files to keep everything safe and secure!
An example of the timescale is below:
Hannah submits her 2025/26 tax return online by the 31 January 2027 deadline. She must keep the records until at least the end of January 2032.
And here is a simple table for recent years:
| Tax Year | Online Submission Deadline | Keep Records Until |
|---|---|---|
| 2020/21 | 31 January 2022 | End of January 2027 |
| 2021/22 | 31 January 2023 | End of January 2028 |
| 2022/23 | 31 January 2024 | End of January 2029 |
| 2023/24 | 31 January 2025 | End of January 2030 |
| 2024/25 | 31 January 2026 | End of January 2031 |
| 2025/26 | 31 January 2027 | End of January 2032 |
| 2026/27 | 31 January 2028 | End of January 2033 |
If you send a tax return very late, more than 4 years after the deadline, HMRC says you need to keep your records for 15 months after you send it.
The same time limits apply if you’re in Making Tax Digital for Income Tax. Your records just need to be kept digitally, in your software. You can read more on gov.uk’s guide to business records if you’re self-employed.