Surely one of the most frustrating things about running your own business is the amount of paperwork involved. Even in these days of computers, you are still likely to have receipts and other books and paperwork that you need to keep. And as you will know, you need to keep everything for seven years in case HMRC decides to ask to see anything at any point (though hopefully they never will).
This can be a real pain because paperwork tends to mount up quickly and old paperwork can really get in the way. Maybe that’s why some businesses decide to make good use of a self-storage unit to store away all that paperwork. After all, you probably won’t need it for the duration of those seven years but you still need to have it close at hand just in case. As such, you don’t want to try cramming lots of paperwork into your office space when you have many other far more important things you should be storing there instead.
That’s why it makes sense to rent a storage space big enough to store that paperwork logically. Each year when you’ve done your tax return and you’ve finished with that year’s paperwork, you can take it along to your storage space and store it there. At the same time, you can remove the oldest lot of paperwork that is now beyond seven years old and take it away to dispose of safely, so you shouldn’t need to keep on increasing the amount of space you rent because you will only ever need enough to keep those seven years’ worth of paperwork…just in case.
Posted in: Archive Storage