Small Business Accounting

Do I need to retain expense receipts?

By

Chris Andreou

Do I need to retain expense receipts? guide

Contents

You need to keep your receipts for expenses for at least five years after the 31 January submission deadline for the relevant tax year.

It helps to minimise paperwork wherever possible, so we recommend taking a picture of your receipts and storing these images away digitally. You can use cloud storage platforms like Dropbox or an expenses app like Expensify.

<p>You need to keep your receipts for expenses for at least five years after the 31 January submission deadline for the relevant tax year. <br></p><p>It helps to minimise paperwork wherever possible, so we recommend taking a picture of your receipts and storing these images away digitally. You can use cloud storage platforms like <a href="https://www.dropbox.com/features/cloud-storage" target="_blank">Dropbox</a> or an expenses app like<a href="https://www.expensify.com/" target="_blank"> Expensify</a>.</p>

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