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Sole Trader Accounts

What records do I need to keep?

Answered by the TAG Accountancy team · Norwich, Norfolk

Quick Answer

Enough to show how you arrived at the figures on your return: sales invoices, purchase receipts, bank statements, mileage logs, and records of any goods you took for…

Enough to show how you arrived at the figures on your return: sales invoices, purchase receipts, bank statements, mileage logs, and records of any goods you took for personal use. Digital copies are fine and HMRC accepts photographs of receipts.

Keep them for five years after the 31 January filing deadline for that tax year. Under Making Tax Digital the records will need to be kept digitally, which is one reason we set clients up on software early.

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