Holding onto reams of information for several decades isnt easy, unless the data can be digitized, but in a context where Revenue can re-open case files after 20-30 years (as happened with the various historic enquiry programmes of recent times), I consider it a prudent course of action.Thx TMc,
I was wondering about the "for life" bit as one accumulates a lot of docs over a lifetime.
Holding onto reams of information for several decades isnt easy, unless the data can be digitized, but in a context where Revenue can re-open case files after 20-30 years (as happened with the various historic enquiry programmes of recent times), I consider it a prudent course of action.
Unless of course it suits one to have no records older than the statutory limit...
Then the revenue can estimate a liability using their records and its up to you to disprove it.
Keep all financial/taxation records for life, It won't take up that much space.
Then the revenue can estimate a liability using their records and its up to you to disprove it.
Keep all financial/taxation records for life, It won't take up that much space.
But, Gekko, how does the taxpayer prove the absence of fraud or neglect if he doesn't have the paperwork?
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