did a finance course about 2 years ago with a leading bank due to work regulations and back then it was 7 years for the puchaser but 25 for the seller if that make sany sense to you
I'm pretty sure it's 7 years....the revenue will only let you review the previous 4 years if seeking a refund in tax. In saying that, in the event of an audit, the onus is on an individual to prove their innocence as opposed to the revenue having to prove guilt...if that makes sense! But 7 years would be the recommended time-frame I believe!
7 years is what we have always worked on. Just taught with everyting on computer these days that may have changed. PILES of paperwork to be moved so
Hi Afraid while we're only allowed claim tax back in respect of the past 4 years, Revenue can audit you back further ... 7 years is what I also think we need to retain records for.
The VAT Guide 2008 states that "Revenue requires business records to be preserved in their original form for 6 years from the date of the latest transaction to which they refer unless written permission of the relevant Revenue District has been obtained for their retention for a shorter period". So you're looking at 6 years Bobby. If anybody out there is looking foir any help with Accountancy work give me a shout.
Can you do something about putting my bank account back in the black Fran and make it look as though I never had a credit card