You need to keep tax records for at least six years from the end of the accounting period they cover. In some cases, you may need to keep them longer. For instance, if you send your tax return late or buy equipment expected to last more than six years. HMRC might want to check these records if they look into your tax affairs. Holding onto them makes sure you’re prepared for a tax investigation.  Not much misses the cut. For example, you should keep records of all the money coming in – including regular sales through your point-of-sale system or QR codes, advance income from gift cards and any small business grants received. Equally important is recording expenses. This includes things like purchases of stock and inventory, payments for staff wages, any equipment costs, and expenses from marketing efforts like email marketing campaigns.