Did you know there’s legislation in place covering the correct keeping of records for everything from employee performance appraisals to salary payments to medical records? Getting it wrong can be costly, with fines of up to £500,000 so Banner has produced a handy guide to help.

1. Records
Management
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2. How long should files and records be kept?
What are the legal requirements?
General accounting records should be kept for 6 years by
public limited companies and 3 years for public companies.
VAT Records Employee pay Asset monitoring Expenses
6 years 7 years 7 years 7 years

5. Employee records need to be stored securely
and retained for a number of years.
Job applications and interview notes for unsuccessful
candidates should be kept for 6 months.
Staff
attendance
2 years
Staff
performance
5 years
Voluntary
redundancy
6 years

7. Banner offers a complete life cycle solution for
your documents from records management to
secure shredding and recycling.
Banner offers a free
records management “health check”.
For more information email recordsmanagement@office2office.co.uk.

8. Produced by Banner Business Services
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Sources: HMRC, Information Commisioner, NHS and National Archive