Retaining paperwork for dissolved comany - how long?
Discussion
Everything you needs is here, but six years is generally correct:
http://www.hmrc.gov.uk/ct/managing/record-keeping....
http://www.hmrc.gov.uk/ct/managing/record-keeping....
If the company was formally dissolved,it no longer exists and therefore surely it cannot have any records, I was under the impression (clearly mistaken) that prior to being dissolved the reason such notice is given is to allow any claimants to come forward.
HMRC's own manuals to staff put a high alert on companies being dissolved as if the dissolution happens with an overdrawn DLA, they can't chase either company or Director (not even for marginal Tax on the dla)
I assume the Insurance industry might have a database of who insured what for old companies to cover that side of things but again if a company is dissolved why do you need records.
Ex Directors are just that, no longer in place and I doubt the Liquidator is going to keep records of Dissolved companies.
HMRC's own manuals to staff put a high alert on companies being dissolved as if the dissolution happens with an overdrawn DLA, they can't chase either company or Director (not even for marginal Tax on the dla)
I assume the Insurance industry might have a database of who insured what for old companies to cover that side of things but again if a company is dissolved why do you need records.
Ex Directors are just that, no longer in place and I doubt the Liquidator is going to keep records of Dissolved companies.
In cases of fraud, there are no time limits.
Just because a fraudulent company may have been dissolved and appeared to escape initially under the radar does not mean that the people involved in that company can escape justice for their criminial activities.
If directors have destroyed all evidence of the company's existence - including formal accounts etc and are later prosecuted for fraud - then the fact that they destroyed records needed for a criminal investigation will be taken into account - even if the destruction of those records was after certain time limits had expired.
Just because a fraudulent company may have been dissolved and appeared to escape initially under the radar does not mean that the people involved in that company can escape justice for their criminial activities.
If directors have destroyed all evidence of the company's existence - including formal accounts etc and are later prosecuted for fraud - then the fact that they destroyed records needed for a criminal investigation will be taken into account - even if the destruction of those records was after certain time limits had expired.
That's the key. The basic information is still available.
And the accountant's copies of clients' should not be the original copies anyway. It's the client that has the legal requirement to be able to produce financial data if required.
I hapilly shred clients' information these days - but I know I have electronic copies of all the basic stuff.
And the accountant's copies of clients' should not be the original copies anyway. It's the client that has the legal requirement to be able to produce financial data if required.
I hapilly shred clients' information these days - but I know I have electronic copies of all the basic stuff.
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