Keeping records

Key requirements

Keep invoices, serial receipts, credit notes, import/export permits, transport documents, contracts, bank statements and stock/ledger schedules for at least five years from accounting period-end. Retain missing-trader risk assessment, checks and follow-up actions. Electronic records are allowed under the applicable guide without advance approval. A software migration need not import all old transactions into the new system, but old records must remain retrievable with source documents. Lost input evidence can deny claims; missing export proof can require standard-rating. Preserve records after deregistration rather than deleting them when the last return is filed.