Business document retention: US and UK rules plus a practical filing plan

US federal income-tax records: check the exceptions

The IRS generally specifies three years for supporting income-tax records when its longer-period exceptions do not apply. Its guidance also specifies six years for omitted income exceeding 25% of reported gross income, seven years for certain worthless-security or bad-debt loss claims, and indefinite retention for no return or a fraudulent return.

Refund or credit claims can use the later of three years from filing or two years from payment. Property records may be needed through the limitation period for the disposal year. These are not a universal three-year destruction rule: the IRS also advises checking non-tax needs. Read the source for the applicable clock and exceptions; state, employment and other obligations are outside this summary.

• IRS: how long to keep records and the applicable exceptions

UK self-employed records: start from the submission deadline

GOV.UK says self-employed business records must generally be kept for at least five years after the relevant 31 January submission deadline. For a deadline of January 31, 2026, that points to at least the end of January 2031, not five years from the invoice date. The source also describes a special rule for returns submitted more than four years late.

• GOV.UK: self-employed record-retention periods

UK limited companies: a different clock

GOV.UK says company records must be kept for six years from the end of the last company financial year they relate to, with longer retention in specified situations. Those include long-lived assets, transactions covering multiple periods, late Company Tax Returns and compliance checks. Do not apply the self-employed deadline calculation to a company automatically.

• GOV.UK: company and accounting records

Create a retention register before deleting anything

For each category, record who owns it, the rule and jurisdiction being used, the start event, any exceptions and a review date. Make the review date a checkpoint, not an automatic destruction instruction. Confirm that a dispute, audit, warranty, contract or other requirement does not require longer retention before disposal.

Record category: [for example, supplier invoices supporting a tax return]
Entity and jurisdiction: [actual business and applicable rules]
Rule / official source: [link and section]
Clock starts from: [event and actual date]
Earliest review date: [calculated only after checking exceptions]
Other obligations or hold: [audit, dispute, asset life, contract, or none confirmed]
Storage locations and access owner: [details]
Last readability / restore check: [date and result]
Disposal decision: [reviewer, reason and date; not automatic].

Preserve documents, context and a usable backup

For one order, keep the approved quote or PO, issued invoice, delivery evidence, payment record and any credit or refund record connected. A file named Paid is not supporting proof by itself. Store the actual transaction reference and the relevant correspondence.

Docuivo stores a working draft in your browser; it is not a cloud archive, accounting ledger or retention service. Clearing browser data, replacing a draft or losing a device can remove that working copy. Export issued documents to controlled storage, keep an independent backup and periodically open a restored copy to check readability.

Limit access to the people who need the records. Keep the originals where required, and do not assume a scan or text-only PDF preserves every necessary feature. The application's text PDF omits uploaded logos and signature images; use and inspect the appropriate output for the purpose.

• Use a consistent document-filing scheme
• See connected invoice and payment examples