Here U Can Store It Self Storage (Aldridge and West Bromwich) discuss how Self Storage sites across the country are providing worry free, cost effective archive document storage.
Further to the statuary requirement to retain company records (Including original documentation) for at least 6 years from the end of a company’s financial/tax year, storing your documents economically is a necessity. Similarly, as your business expands or grows from start up, good organisation in terms of storage of all documents can be a major advantage.
According to HM Revenue and Customs;
“There are minimum periods for which you must keep records, eg six years for VAT or five years from the latest date for filing your return for Self Assessment. You may need to look back at them yourself, and we may need to see them if there is any question over your tax”.
They also make a point about the usefulness of organisation;
“Keeping records makes sound business sense. It may seem like a challenge, particularly when you're starting out, but keeping good records will bring real advantages to your business. Get a proper system in place from the outset, and update the information regularly.
Keeping good records:
• helps you avoid paying too much tax and makes filling in your tax return easier and quicker
• avoids interest and penalties by making it easier to pay the right tax at the right time
• gives you the information you need to manage your business and help it grow
• makes it easier to get a loan
• helps you budget for tax payments
• helps us to check your tax position accurately
• could help reduce your accountant's fees if you use one - well-organised information saves them time, too
• may support your claims to some reliefs or capital allowances.”
(Source: http://www.hmrc.gov.uk/startingup/keeprecs.htm obtained at 09:30am on 27.04.2011 – HM Revenue and Customs)
We could not have put it better ourselves, storing your documents from day one can make life so much easier in the future. Companies like U Can Store It do not only provide the storage unit (that you can access at 3am in the morning when your Tax Return seems to be getting the better of you!) but also racking so that the organisation of your documents can be neat, tidy, accessible, convenient, confidential and most importantly secure!
Many companies like U Can Store It are also able to offer a disc scanning and shredding service, therefore, when you have stored your documents for the necessary amount of time the storage sites can really take the headache away by consolidating the documents or disposing of them, you can often oversee the shredding and will be presented with a “Certificate of Destruction” upon completion.
Of course the economic nature of archiving is also worth highlighting, this method of storing your documents saves you valuable (expensive!) office space. The units supplied by companies like U Can Store It can (depending on shelving arrangements) accommodate in excess of 75, 150, 300 or 600 standard size archive boxes.
If you feel that you could make use of self storage for your Archiving or Document Storage then why not contact U Can Store It, you can usually turn up and rent a storage unit on the spot by completing our simple Rental Agreement, but to be sure of availability contact us via our website www.UCanStoreIt.co.uk or call us on 0800 195 4533. No more than one weeks rent will be required in advance and possibly a small deposit. For security purposes remember to bring two forms of identification; one with your photo e.g passport or driving license and a current utility bill.
Please note that the advice given is in accordance with the Containerised Self Storage offered by U Can Store It Self Storage and may not be relevant to all type of self storage. Always check with your supplier about the services they offer. U Can Store It Self Storage can only comment on their own experiences.
