Written by the TaxTune Editorial Team · Reviewed by our qualified accountants · Updated for 2026
The quick answer Keep records of all your income and expenses, with receipts and invoices, for at least 5 years after the 31 January filing deadline. Digital records are fine, and keeping them as you go makes filing quick and defends every figure on your return.

What to keep

  1. Income records. Every invoice you raise and payment you receive, including cash.
  2. Expense records. Receipts and invoices for everything you claim, split where there is a personal element.
  3. Bank and card statements for your business account.
  4. Mileage and home working logs, if you claim travel or use of home.
  5. Records of assets bought, for capital allowances.

How long to keep them

Keep self employed records for at least 5 years after the 31 January deadline for that tax year. So records for the 2025/26 return must be kept until at least 31 January 2032. If HMRC opens an enquiry, keep everything until it is settled.

Simple habits that help

  • Use a separate business bank account, so personal and business are never tangled.
  • Photograph receipts the moment you get them, before they fade or vanish.
  • Reconcile monthly, rather than facing a year of paperwork in January.

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Frequently asked questions

How long should I keep my records?

Keep self employed records for at least 5 years after the 31 January filing deadline for that tax year. If HMRC opens an enquiry, keep everything until it is fully settled.

Do I have to keep paper receipts?

No. HMRC accepts digital records, so a clear photo or scan of a receipt is fine as long as it is legible and complete.

What records do I need to keep?

All income and sales, all business expenses with receipts, bank statements, mileage and home working logs, and records of assets bought for capital allowances.

Do I need a separate business bank account?

It is not legally required if you are a sole trader, but it makes record keeping far easier and cleaner, and is strongly recommended.

What happens if I lose a receipt?

Reconstruct what you can from bank statements and other evidence, and keep a note. HMRC may still accept a reasonable, well evidenced figure, but missing receipts weaken a claim.