Client's File Return from or Keeping with Accountants

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MoneySavingBank
MoneySavingBank Registered Posts: 143 Dedicated contributor 🦉
Hi all,

Do we need to keep hold of all clients' files for those specefic period? Can I return last years file to the client after preparing accounts and self-assessment return.

Do I need to get signature on any paper saying clients have received the files etc etc? Could you please explain that to me?

Regards,

MSB

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  • Anne Boleyn
    Anne Boleyn Registered Posts: 196 Dedicated contributor 🦉
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    Files

    Hi
    What do you mean by files? Do you mean the clients records or your working papers compiled while working on the records?

    If it's clients records then return them when the client picks up his accounts and tax return. If you mean your working papers then keep them. Of course I don't know what working papers you compile.

    Hope this helps.
  • MoneySavingBank
    MoneySavingBank Registered Posts: 143 Dedicated contributor 🦉
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    Hi Anne,

    Thanks again for your reply.

    Yea, I mean Client's Records. Most importantly, do i need to get a sign somewhere saying they have picked up the records from me?

    Regards,

    MSB
  • Anne Boleyn
    Anne Boleyn Registered Posts: 196 Dedicated contributor 🦉
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    Clients records

    Hi
    I suppose you could but I never have. My client take all their records back with them when they come to collect the accounts.
  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
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    Hi
    I suppose you could but I never have. My client take all their records back with them when they come to collect the accounts.


    Yep, same as. Clients sign their accounts and tax returns and I retain a copy in their file. I keep my working papers, they take their books and records back and keep them safe.
  • JodieR
    JodieR Registered Posts: 1,002 Beyond epic contributor 🧙‍♂️
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    I try to bundle up the client's records as neatly as possible and put a big label on the top saying (for example): 2010/11 Tax return records - Retain until 31/01/2017. Then I do as the others do and return them to the client when they collect their accounts.
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