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Best Ways To Store Paper Documents: A Guide for UK Businesses

4 Min Read

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In today’s digital age, the importance of keeping paper copies is severely understated, with much of our information getting transferred over to the cloud. But for some things, keeping a hard copy will always be necessary.

Businesses are required by law to keep a thorough and complete archive of certain records for years. Document storage is also good practice in general, helping your business stay organised, keeping your office uncluttered, and making sure important documents are easily accessible when you need them.  

Wondering where and how to store paper documents in the UK? We’ll get you sorted with everything you need to know about document storage in this blog. 

Which Records and Documents Should a Business Keep? 

Businesspeople looking at very important paperwork

When it comes to business documents, there’s a long list of records, ranging from billing documents and outgoing invoices to employee insurance and overtime records, that must be archived in order to comply with HM Revenue and Customs (HMRC) regulations. It can be confusing knowing exactly what you need to keep safe and for how long, but it’s essential to make sure you’re compliant with any existing regulations.

According to the Companies Act 2006 in the UK, every company is mandated to keep adequate accounting records, including:

  • Statements at the end of each financial year
  • Records of assets and liabilities
  • Entries of sums received and paid from day to day
  • Any relevant accounting record that discloses the financial position of the company at the time

The following is also paperwork worth keeping for legal purposes, especially if you end up involved in a dispute:

  • Companies House and/or HMRC Papers: Essential for legal compliance in the UK
  • Data Protection Documents: Ensures compliance with data protection laws
  • Tenancy Agreements: For premises occupation details
  • Financial Agreements Records: Includes loans, leases, and other financial commitments
  • Contracts: Any business agreements and their terms
  • Company Records: Keeping records in line with legal obligations
  • Employment Contracts: Crucial for employees

How Long Should You Keep These Records for?

The basic retention period for business documents is set at a standard of five years for sole traders and partners and six years for companies, but there are some notable exceptions to this rule. When it comes to documents relating to employees, such as employee pension information and employee insurance, dunning notices, and general correspondence, the five- and six-year retention periods are lowered to only three years.

It’s recommended that these documents are stored for the following number of years: 

Document TypeAmount of Time To Store
Accounts Payable Ledgers7 years
Bank Statements 7 years
Safety Records 6 years
Accounts Receivable Ledgers 7 years
Contracts & LeasesPermanently
Training ManualsPermanently
Purchase Orders5 years
Payroll Wage/Salary Records3 years
Deeds & Mortgages5 years

To be absolutely sure about how long you should store certain documents, it’s always a good idea to consult a legal professional. This can save you from receiving fines or facing other legal consequences. 

How To Store Paper Documents Long Term

Shelves of paper records

Knowing what to store is essential, but knowing how to store paper documents is equally important since they’re easily damaged or misplaced when archived. You don’t want important documents sitting in old filing cabinets, vulnerable to new, misguided employees who could toss them out without a second thought. You also don’t want them cluttering up your office, waiting to fall victim to a few coffee spills. 

So here are some useful tips to make sure you’re doing document storage right:

Choose a Suitable Storage Location

It’s your responsibility to protect your documents from every threat — this includes anything from theft to fire damage. Invest in a lockable unit within your offices or, even better, choose a secure off-site option like a self storage unit. This is well worth the additional cost, especially if you have to store legal documents and you’re concerned about confidentiality. Plus, it’s far more affordable than paying fines for damaged or lost records.

The storage environment should be cool and dry, with a consistent temperature year-round. Humidity can cause your documents to decay, and excessive moisture can lead to water damage. 

Get Rid of Duplicates 

Don’t let duplicates take up precious storage space — you don’t want to rent any more space than you need! Back your files up digitally and keep single copies where necessary. The more duplicates, the more files to sift through, so sort through all your paper clutter ahead of storing. 

Develop an Effective Filing System

A good filing system allows you to easily access and retrieve any documents that you need. It’s also worthwhile keeping a detailed record of all your archived documents, so you know which documents you’ve stored and where.

Establish a Collection Schedule 

Arrange a weekly or monthly routine for collecting your documents for storage (how often you do this will depend on how many paper documents your business produces on average). Stay faithful to this routine so you don’t have a build-up of paper clutter. 

Use Quality Storage Materials 

When you’re archiving paper documents, make sure to use durable archive boxes with lids. Good storage boxes should keep out pests who feed on paper, as well as any dust or moisture. 

Secure Off-Site Document Storage in Manchester, UK

A Storage World facility in Manchester

For secure document storage, turn to Storage World! We’ll hold on to all your important documents while you transition to a clutter-free, paperless workspace that complies with all those important regulations. Whether it’s five years, 10 years, or more, we’re the go-to solution for storing paper documents long term. 
Contact us now to get the best storage for your business!

Our Locations

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Storage World Manchester

Manchester

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Manchester, M12 6LP

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