Retention of Documents for Revenue

lissy

I'm in the the middle of a wind down and are presently arciving all our accountancy records for the past 6 years for revenue purposes. One item we are unsure as to whether we need to keep it is stock movements books, ie. written pallet lists of moving finished product from production into stock into our warehouse. Is it necessary to keep this for revenue audits?

kluivert

Records Minimum retention period recommended

All company secretarial records including original signed financial statements Permanent

Fixed asset sections of an audit file Permanent

Pension details and general ledger section of audit files Permanent

All other audit working papers 6 years

General client prime accounting records such as banking details 6 years

Secondary client accounting records such as budgets, projections, bills of
lading, petty cash vouchers 3 years

Tax papers and receipts 6 years

Generally the above is the minimum period and each file should be considered separately.