DEPENDS UPON THE TAX DATA RECORDED. SOME SUGGESTIONS ARE LISTED BELOW:
1. DOCUMENTS THAT SUPPORT TAX DEDUCTIONS & PAYMENTS SHOULD BE KEPT UNTIL THE STATUE OF LIMITATIONS FOR THAT TAX YEAR RUNS OUT. FOR EXAMPLE KEEP TAX YEAR 2006 DATA UNTIL 2009 i.e. 3 YEARS.
2. FOR RECORDS OF ASSETS, KEEP RECORDS AFTER DISPOSAL UNTIL THE TAX YEAR THE STATUTE OF LIMITATION EXPIRES i.e. IF A CAR IS DISPOSED OFF IN TAX YEAR 2008, KEEP ITS RECORDS UNTIL TAX YEAR 2011.
3. IF YOU FILE A CLAIM FOR WORTHLESS SECURITIES, KEEP RECORDS FOR 7 YEARS.
4. KEEP EMPLOYMENT RECORDS FOR 4 YEARS AFTER TAX IS DUE OR PAYABLE, WHICH EVER IS LATER.
5. FOR UNREPORTED INCOME OVER 25% OF YOUR GROSS INCOME, KEEP RECORDS FOR SIX YEARS.
6. FOR FRAUDULENT OR NOT FILED RETURNS, KEEP RECORDS INDEFINITELY.
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