Company documents - Legal Team
| Category of document – responsibility | Document retention period |
|---|---|
| Company formation documents | No legal requirement but permanent retention recommended |
| Registers of directors and their residential addresses, secretaries, members, interests in shares, charges and debenture holders | Indefinitely unless specifically stated otherwise |
| Minutes of directors’ meetings, general meetings, copies of all members’ resolutions passed outside general meetings and all decisions made by a sole member | At least 10 years |
Accounting records - Finance Team
| Accounting records – Finance Team | Document retention period |
|---|---|
| Banking records and books of accounts | Three years for private companies, six years for public companies |
| Management accounts and budgeting forecasts | Three years for private companies, six years for public companies |
| Invoices, payroll information | Three years for private companies, six years for public companies |
| Documents referring to stamp duty land tax, such as contracts, conveyances, records of payment. | 6 years from the effective date of the transaction or until an enquiry has been completed, whichever is later. |
Auditors/accountants - Finance Team
| Category of document – responsibility | Document retention period |
|---|---|
| Audited financial statements and all documents that record the audit procedures, evidence obtained and conclusions reached. | 6 years from the auditor’s report. |
Tax - Finance Team
| Category of document – responsibility | Document retention period |
|---|---|
| Deeds of title | Permanently or until they are delivered to a purchaser on disposal. |
| Leases | 15 years after the lease has terminated and all queries, such as dilapidations, have been settled. |
Patent and trade mark records - Legal Team
| Category of document – responsibility | Document retention period |
|---|---|
| Certificates of registration and records | Permanently |
Investments - Finance Team
| Category of document – responsibility | Document retention period |
|---|---|
| Original certificates and other documents of title | Permanently or under investment is disposed of. |
| Purchase and sales register | Indefinite |
Agreements and related correspondence - Legal Team
| Category of document – responsibility | Document retention period |
|---|---|
| Contracts with: • Clients • Suppliers • Agents • Licensing arrangements • Rental and HP agreements • Contractors |
If contract is entered into as a deed, 12 years after expiry of the contract. If the contract is not a deed, 6 years after expiry of the contract. |
| Indemnities and guarantees | If contract is entered into as a deed, 12 years after expiry of the contact. If the contract is not a deed, 6 years after expiry of the contract. |
Health and Safety - Facilities
| Category of document – responsibility | Document retention period |
|---|---|
| Written statement of general health and safety policy | Permanently |
| Risk assessments | Until the new assessment has been completed to render the old one invalid. |
| Records of reportable injuries, diseases or dangerous occurrences/ Accident books | Three years from the date of entry for each reportable incident. |
Environmental legislation/ regulations
| Category of document – responsibility | Document retention period |
|---|---|
| Hazardous waste registers and records | At least 3 years |
Employee records - HR Department
| Category of document – responsibility | Document retention period |
|---|---|
| Employee history Recruitment records |
No legal retention period |
| Staff personnel records | 7 years after termination of employment (unless it is appropriate to retain indefinitely). |
| Job application and interview records | 3 months after notifying unsuccessful candidates |
| Maternity, paternity, adoption and sickness records | 3 years after the end of each tax year |
| Anonymised sickness records | No longer than 6 years |
| PAYE records | 3 years after the end of the tax year to which they relate |
| National Insurance contributions | Three years after the end of the tax year to which they relate, or for documents relating to information about the amounts of Class 1A and Class 1B contributions, three years after the end of the year in which a contribution became payable |
| Expense accounts | 7 years |
| Group health policies | 12 years after final cessation of benefit |
| Group personal accident policies | 12 years after final cessation of benefit |
| Timesheets | 2 years |
Pension records - HR Department
| Category of document – responsibility | Document retention period |
|---|---|
| All trust deeds and rules, trustee’s minute book, fund annual accounts and Inland Revenue approvals, investment records, actuarial valuation reports and contribution records | Permanently |
| Records of ex-pensioners | 6 years after cessation of benefit |
| Pension scheme investment policies | 12 years after final cessation of any benefit payable under the policy |
Insurance policies - Legal Team
| Category of document – responsibility | Document retention period |
|---|---|
| Public liability policies | Permanently |
| Product liability policies | Permanently |
| Employers liability policies | Permanently |
| Other policies | 3 years after lapse |
| Claims correspondence | 3 years after settlement |
| Accident reports and relevant correspondence | 3 years after settlement |
| Insurance schedules | 10 years |
Sales documents - Sales team
| Category of document – responsibility | Document retention period |
|---|---|
| Estimates and quotations | If contract entered into, 12 years after expiry of the contract if it is a deed, 6 years after expiry of the contract if not. If it did not result in a contract, 1 year. |
| Customs and excise returns | 6 years |
| Invoice/credit notes | 6 years |
| Sales ledger | 10 years |
| Credit control statements | 2 years |
| Overdue accounts (letters to customers) | Until paid |
| Standard terms and conditions | 6 years following termination of the relevant agreement |
Purchasing documents - Sales team
| Category of document – responsibility | Document retention period |
|---|---|
| Purchase orders – revenue and capital | 3 years |
| Quotations – capital expenditure | Indefinite |
| Quotations – revenue expenditure | Current plus 1 year |
| Contracts for purchasing raw materials | 12 years if entered into as a deed, 6 years if it is not a deed |
Fixed assets - Finance department
| Category of document – responsibility | Document retention period |
|---|---|
| Analysis of fixed assets and provision for depreciation | 7 years |
| Disposal of assets | 7 years |
| Applications to write off plant book value | 7 years |
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