Client's File Return from or Keeping with Accountants

MoneySavingBank

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

Anne Boleyn

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

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

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

Anne Boleyn wrote: »

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

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.