Record Keeping and Suggested Methods

There is a legal requirement for you to keep records. Generally you should keep records for 2 years after the tax year end- 6 years if you have income from property or self-employment.

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Keeping  Records

There are many different ways to keep records. Probably the easiest way is in an analysis book or computer spreadsheet format- do remember to make regular backup copies if you use the latter method!

Where possible, receipts should be retained. If this is not possible, for example because they are submitted to the PCC for reimbursement, please note your records to this effect.


Self Assessment brought in a “process now check later” system of dealing with Tax Returns

Recording Mileage

It is important that you keep accurate records of your travel.


Generally the cost of reasonable entertaining on official occasions is regarded as deductible.

payment to others

Understand where deductions are claimed for payments to partners and children


Where telephone are used for business see what records are need to be kept

Other Matters

Telphone Bills, Computers and Capital Gains.

Useful Links

Click on the following links to access the company websites