Store or Shred? Tips for the New Financial Year

.Store or Shred? Tips for the New Financial Year

Are you tired of storing and shuffling through financial records of up to six years or more? Don’t fret as you can now store or shred documents that are no longer needed for the next financial year. Here are some of our top tips to help you clear the decks, and help you get ready for the new financial year:

1. Get organised

Did the past financial year leave you with a ton of paperwork? The 2018/19 UK tax year is now done, so with the last year’s tax returns already filed, now is the best time to get yourself reorganised.

Start as soon as you can! Remember to take your time to de-clutter your office so that you can start the new financial year without the old paperwork that takes up too much space in your office. When doing your de-cluttering, don’t just organise the loose documents. It would be best to also get all your files in order such as invoices, receipts and financial statements. Organise and store them neatly where you can find them. If you are putting them in a box or organiser, make sure to clearly label each category. This way, you won’t have any difficulty finding the paperwork should you need them again.

2. Shred documents securely

Should you no longer need to keep some of your files, it is time to shred them. However, it is important that you destroy these documents securely. Thanks to the GDPR, the manner that you destroy sensitive documents is now more important. Review the new regulations about document retention schedules and destruction dates.

3. Be ruthless, but not too ruthless

Before you begin the process of shredding, it’s best to review the documents. This way you will know if the documents are safe to shred. Be aware as HMRC may ask about your accounts, which may mean you need to revisit your documents. Shred with caution!

If you need a refresher on how long you can keep your records, visit the government’s website and read the articles related to document lifecycle.

4. Store practically

If it is not yet the right time to shred your documents, be sure to find a safe and secure place to store them. If you have extra room in your house or office then you can store them there. However, if you are in need of extra space or if you just want to have peace of mind regarding the storage of your documents then get yourself a document storage unit. Here at Archive this, we offer a document storage unit that is flexible, cost-effective and most importantly, secure.

These are just some of the tips to help you start afresh this new financial year. If you are thinking of getting a document storage unit for your files, then you don’t have to look any further.

Archive This offers secure and efficient document storage. Our facility is accessible from 7 am to 7 pm, seven days a week. We maintain strict onsite security regulations, which include CCTV of the premises and a physical security presence throughout the night. Do not hesitate to contact our friendly team on 01179 516325 to see how we can help you. Why not continue browsing our website to know more about the services that we offer.