Audit next week - minor issues

Data protection Act means that banks only hold 6 years worth of data on each account. They destroy everything older. So if you are having an audit, they realistically can't go back further. If they suspect fraud, I think they can guess at what you should owe, beyond the 6 year limit, without having to get their hands on financial records. I am open to correction on that
 
Data protection Act means that banks only hold 6 years worth of data on each account. They destroy everything older. So if you are having an audit, they realistically can't go back further. If they suspect fraud, I think they can guess at what you should owe, beyond the 6 year limit, without having to get their hands on financial records. I am open to correction on that

How can they possibly "guess" what you owe. Without any evidence it's not going to stand up in court.

I've had clients that were able to get accounts data going back to the 80s when settling offshore accounts cases.
 
I was advised by a very stressed someone I know personally to keep everything forever, he had to pay more than a million following an audit, and revenue go back forever.

Officially revenue say you have to keep records for 6 years. Keep everything is my advice.
 
How can they possibly "guess" what you owe. Without any evidence it's not going to stand up in court.

If they discover you have been renting a house since 1995, and haven't declared it, and they know the rent figure from 6 years ago, they can assume that the rent from 1995 to 2006 is the same figure as from 2006 to date. I thought they could do stuff like that....
 
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