How long to keep things.
WHAT DIFFERENT OBLIGATIONS REQUIRE
- Company records: a period prescribed by companies legislation
- Tax records: a period prescribed by tax legislation
- Employment records: periods varying by record type
- Sector records: as the regulator requires
WHY THEY DIFFER
Each regime sets its own.
WHAT TO DO
Keep to the longest applicable period for each document.
WHAT TO KEEP INDEFINITELY
Certificates of registration Constitutional documents Property documents Statutory registers Executed agreements of continuing effect
WHY INDEFINITELY
They evidence existing rights and status.
WHAT TO KEEP FOR THE PRESCRIBED PERIOD
Accounting records Tax filings and supporting documents Payroll records Invoices and receipts
WHAT TO DELETE AFTER THE PERIOD
Personal data with no continuing purpose.
WHY DELETE
Data protection requires it, and retention is risk.
WHAT TO BALANCE
Retention obligations against deletion obligations.
HOW
A schedule addressing both.
WHAT TO DO ABOUT LEGAL HOLDS
Suspend deletion for anything relevant to a dispute.
WHAT TO RECORD
The schedule, and the reasoning.
WHAT TO AUTOMATE
Deletion at the end of periods.
WHAT TO REVIEW
The schedule, annually.
WHAT TO VERIFY
Current statutory periods.
