Accounting software
How long to keep business records in the UK: limited companies, sole traders and VAT
The official retention periods for UK business records — six years for limited companies, five years after the Self Assessment deadline for sole traders, six years for VAT — and what to keep.
By the Nemexio team · · 5 min read
Limited companies
A company must keep accounting records for 6 years from the end of the last company financial year they relate to, or longer in some cases — for example, where a transaction covers more than one year [1]. GOV.UK warns that a company can be fined £3,000 by HMRC, or a director disqualified, for failing to keep proper records [1].
Sole traders and partnerships
If you are self-employed, you must keep records for at least 5 years after the 31 January submission deadline of the relevant tax year [2]. Records for the 2025 to 2026 tax year, due by 31 January 2027, must therefore be kept until at least 31 January 2032.
VAT records
VAT-registered businesses must keep VAT records, including copies of the VAT invoices they issue and receive, for at least 6 years [3]. Under Making Tax Digital those records must be kept digitally [4].
What to keep
- Sales invoices, credit notes and receipts.
- Purchase invoices and expense receipts.
- Bank statements and payment records.
- Correspondence about disputed or late invoices, including reminders sent — useful evidence if a debt goes to court or adjudication.
Keeping chase history
Nemexio logs every reminder with the date, recipient and wording, alongside any problem reported by the payer. That history sits with your records and can be exported whenever your accountant or a court needs it.
Related feature: Reminders — Reminders that go out on their own.
Sources
- [1]GOV.UK — Running a limited company: company and accounting records
- [2]GOV.UK — Business records if you're self-employed: how long to keep your records
- [3]GOV.UK (HMRC) — Record keeping (VAT Notice 700/21)
- [4]GOV.UK (HMRC) — VAT Notice 700/22: Making Tax Digital for VAT
Sources checked on 25 September 2026. This article is general information, not legal advice. For a specific contract or dispute, take independent advice.