At a glance
Contractor CIS minimum keeping period
At least 3 years after the tax year the records relate to ends.
Company accounting minimum keeping period
6 years from the end of the relevant financial year, with longer periods in the listed exceptions.
What you need
Deduction statements and records of deductions used against PAYE.
If your company paid subcontractors, save its payment and deduction records. If contractors deducted CIS from payments to your company, save their monthly deduction statements and your PAYE offset records too.
Save your CIS evidence
1. Export records for subcontractors you paid
Keep gross amounts invoiced by subcontractors excluding VAT, every CIS deduction and, where deductions were made, the materials costs invoiced excluding VAT.
2. Save statements for deductions taken from you
Keep monthly payment and deduction statements with records of deductions used against monthly or quarterly PAYE. Our advice is to store them with the company’s accounting evidence.
3. Allow for longer accounting periods
Keep records longer for transactions spanning accounting periods, equipment expected to last more than 6 years, late Company Tax returns or an HMRC compliance check into your Company Tax Return.
4. Plan storage after strike-off
Companies House recommends keeping business documents for 7 years after strike-off. Our advice is to record where they are stored, who can retrieve them and where the backup is kept.
Illustrative example
Illustrative dates: a contractor payment record relates to the tax year ending 5 April 2027. Its 3-year minimum runs through at least 5 April 2030.
If it supports accounts for a financial year ending 31 March 2027, the usual 6-year accounting period reaches 31 March 2033. Longer accounting exceptions still apply.
If the company is struck off on 30 September 2027, Companies House’s 7-year business-document recommendation reaches 30 September 2034. Keep the same record for the longest applicable period.
Plan the company closure
Before applying for strike-off, wait 3 months after your company’s last trading or stock sale. Check the other eligibility conditions too; this waiting period is not the time it takes to dissolve the company.
Within 7 days of applying, send a copy to members, creditors, employees, pension fund managers or trustees and any directors who did not sign. Include landlords, staff and voucher holders where your company owes them money.
Frequently asked questions
What if a deduction statement is missing?
Ask the contractor for a replacement. If you cannot get one, write to HMRC with your company name, address and UTR, the contractor’s name, address and tax reference if known, payment dates/tax months and an explanation.
What if accounting records are lost?
If you cannot replace lost, stolen or destroyed records, do your best to recreate them, tell your Corporation Tax office straight away and include this information in your Company Tax Return.
What if I cannot produce CIS records?
You could be fined up to £3,000 if you cannot show your CIS records when HMRC asks to see them. Keep them accessible after the company stops trading.