Records management - a guide to keeping your files, documents and records

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Information about Records management - a guide to keeping your files, documents and records
Economy & Finance

Published on April 25, 2014

Author: BannerBusiness



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.

Records Management

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

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

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

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

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