I’ve got stacks and stacks of statements at home, because I thought I had to keep them, for tax assessment purposes, for seven years. I’ve just done a little research, and found that I can recycle rather a lot of that pile.

How long must I retain my records?

You should keep your records for at least 22 months after the end of the tax year the tax return is for.

(If you’re self employed, it’s 5 years after then end of the tax year)

There are a couple of exceptions, which make it prudent to keep them for a bit longer. I’m going for three years, and I’ll keep all my P60s too, but that’ll really be a weight off my shelves!