How long should architects keep records UK?

These details must be kept for at least 3 years after the end of the tax year they relate to. Ultimately, when the completed building is handed over to the client, a set of record information should be passed to them so they are able to operate the building.

How long should an architect keep records?

These times may range from four to fifteen years. Although familiarity with these laws is necessary, they should not be the only consideration in deciding which records to retain.

How long is an architect liable for a building UK?

So the architect is potentially liable for six years from the date of completion if the contract of engagement is executed under hand and 12 years if it is executed under seal.

How long keep archived documents UK?

Documents must be kept for 4 years – unless there is a criminal investigation in which case the 10 year rule applies.

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How long do documents need to be kept?

Mandatory retention periods

Document Retention period
Accounting and tax documents 3 years (private companies) 6 years (public limited companies)
Immigration checks 2 years from termination of employment
Expense accounts 6 years from the end of the related tax year

How do engineers keep records?

Some records to retain may be contract files, communications (emails and mail), schedules, certificate of substantial completion, construction documents, submittals and shop drawings. … If you do have electronic files make sure you have a good backup system in place for those files.

How long do you have to keep engineering documents?

It is recommended that construction documents be retained for at least seven years past the date of substantial completion for projects where the involvement of the engineer is limited. On projects where the engineer’s involvement was significant, documents should be retained until the end of the statute of repose.

How long is an architect’s certificate valid for?

Architect’s Certificates are issued as standard for six years cover, which the council of mortgage lenders have approved for use in their standard format.

How many years is an architect liable for a building?

Article 1723 of the Civil Code states that “The engineer or architect who drew up the plans and specifications for a building is liable for damages if within fifteen years from the completion of the structure, the same should collapse by reason of a defect in those plans and specifications, or due to the defects in the …

Are architects personally liable?

Architects are subject to professional liability as a direct result of the higher expectations placed on us due to our specialized education and training.

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What records need to be kept for 7 years?

Keep records for 7 years if you file a claim for a loss from worthless securities or bad debt deduction. Keep records for 6 years if you do not report income that you should report, and it is more than 25% of the gross income shown on your return. Keep records indefinitely if you do not file a return.

How long do you legally have to keep business documents UK?

You must keep records for 6 years from the end of the last company financial year they relate to, or longer if: they show a transaction that covers more than one of the company’s accounting periods.

How long should you keep utility bills UK?

Bank statements and utility bills do not have to be kept for any specific period of time, if you are not self-employed, but again it can be useful to keep these kinds of records for at least two years, if not longer.

How long do I keep records for HMRC?

How long to keep your records. You must keep your records for at least 5 years after the 31 January submission deadline of the relevant tax year. HM Revenue and Customs ( HMRC ) may check your records to make sure you’re paying the right amount of tax.

When should a record be destroyed?

When the time comes that you no longer need a document or set of documents, you should destroy them. Providing that they don’t relate to company information, clients or employees, you are able to destroy them as frequently as you please.

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How many years of bank statements should you keep?

Most bank statements should be kept accessible in hard copy or electronic form for one year, after which they can be shredded. Anything tax-related such as proof of charitable donations should be kept for at least three years.