SimpleReturns

What records do I need to keep for Corporation Tax?

Updated 27 June 2026
The short answer

Keep a record of every pound your company takes in and pays out, plus what it owns, what it owes, and the stock it holds at year-end, with the receipts, invoices and bank statements behind them. Hold onto it all for 6 years from the end of the accounting period it falls in, not 6 years from the day you bought something. You can keep it on paper or on a computer. Not keeping proper records can cost you a fine of up to £3,000.

Why does my company have to keep records at all?

Your records are the proof behind the figures on your tax return. When you say your company earned a certain amount and spent a certain amount, the receipts, invoices and bank statements are what show those numbers are real. If HMRC ever asks, you need to be able to point to the proof. No proof means you can't back up what you put on the return.

So keeping records is not paperwork for its own sake. It's the thing that lets you work out the right tax and stand behind it later.

What records do I actually need to keep?

There are two groups. The first is your money records, the day-to-day running of the business. The second is a short set of company records, the official facts about the company itself.

Your money records cover:

  • Everything that came in and went out: all the money your company received and all the money it paid out.
  • What your company owns: its assets, like equipment, tools or vehicles.
  • What your company owes, and what it's owed: money you have to pay out, and money other people owe you.
  • Your stock at year-end: the value of any goods you still hold on the last day of your financial year.
  • Everything you bought and sold: the goods that went through the business.
  • The proof behind all of it: receipts, invoices, bank statements, delivery notes and till rolls.

The company records are a shorter list, and many small companies barely touch most of it:

  • Who your shareholders are, and the results of any shareholder votes.
  • Any promises to repay a loan on a set date.
  • Any promise to pay out if something goes wrong.
  • Anyone buying shares in the company.
  • Any loan or mortgage secured against something the company owns.

A quick checklist of what to keep

Tick these off and you have the lot:

  • Bank statements for the business account
  • Receipts for everything the company paid for
  • Invoices you sent out, and invoices you received
  • A record of money owed to you and money you owe
  • A note of what the company owns (equipment, tools, vehicles)
  • The value of your stock on the last day of the year
  • Till rolls and delivery notes, if you sell goods
  • Who your shareholders are, and any share or loan paperwork

How long do I keep all this for?

Keep your records for 6 years from the end of the accounting period they fall in.

This is the bit people get wrong. The 6 years is counted from the end of your company's financial year, not from the day you bought or sold something. So a receipt from early in a year that ends on 31 March 2026 isn't kept for 6 years from the day of purchase. It's kept until 6 years after 31 March 2026, the end of that year. Everything in the same year shares the same finish line.

When do I have to keep records for longer?

In a few cases 6 years isn't enough, and you keep things longer:

  • You bought something built to last. If your company buys equipment or machinery it expects to use for more than 6 years, keep the records for that item for as long as you own it.
  • A deal spans more than one year. If a single transaction covers more than one of your accounting periods, you keep it past the normal 6 years.
  • You filed your tax return late. A late return resets the clock, so you hold the records longer.
  • HMRC is looking into your return. If HMRC has opened a check into your Company Tax Return, keep everything until that's finished.

Can I keep records on my computer instead of in a drawer?

Yes. You can keep your records on paper, on a computer, or inside book-keeping software. A clear photo or scan of a receipt is fine, you don't have to keep the original paper. The rule is about having the record and being able to produce it, not about it being on paper.

What happens if I don't keep proper records?

HMRC can fine you up to £3,000 for not keeping proper accounting records, and in serious cases a director can be banned from running a company. On top of that, if you can't prove a cost was real, you may not be allowed to claim it, which can push your tax bill up. Keeping tidy records is the cheapest insurance there is.

How SimpleReturns handles it

When you connect your bank or upload a statement, we pull your year's money in and out into one place and keep it together with the figures we work out from it. Your return and the records behind it sit in the same spot, so if you ever need to show your working, it's all there. You don't have to build a filing system from scratch.

Common questions

How long do I keep my company's records?

6 years from the end of the accounting period they fall in, not 6 years from the day of each receipt. Some things, like equipment you expect to use for more than 6 years, are kept longer.

Does the 6 years start from when I bought something?

No. It starts from the end of your financial year, so everything in the same year is kept until 6 years after that year-end.

Can I keep my receipts as photos or scans?

Yes. You can keep records on paper, on a computer, or in book-keeping software, so a clear photo or scan of a receipt is fine.

What records do I actually need?

A record of all money in and out, what the company owns and owes, your stock at year-end, what you bought and sold, and the receipts, invoices and bank statements behind them.

What's the fine for not keeping records?

HMRC can charge up to £3,000, and in serious cases a director can be banned from running a company. You may also lose the right to claim a cost you can't prove.

Do I still need records if my company made no money?

Yes. You keep records whenever HMRC was expecting a return, even a return showing little or no tax, so you can back up the figures you reported.

Ready to keep it all in one place?

You don't need a shoebox of receipts or a spreadsheet you dread. Connect your bank or upload a statement, and we keep your year's money in and out together with the figures we work out, then file your return for £99, once, no subscription.

Start your return →

Or, if your company is more complex, like a group, or you keep records across several businesses, an accountant may be the better fit, and that's an honest call to make.

General guidance, not advice. This guide explains how the rules generally work for small UK limited companies. It isn't tax advice for your specific situation, if you're unsure, check with us or an accountant.