Archive your trade documents
Why not archive your trade documents with DataSpace?
All businesses are required to keep records of all traded goods, this includes stock and inventory information. As well as financial and audit documents for a minimum of four years. You must be able to present these upon request to HM Revenue & Customs. HRMC Officers need access to this information to verify claims and declarations that you have made.
If you’re VAT registered you must keep all records and accounts. If you’re importing or exporting, you must declare any goods you move, and keep appropriate trade documents.
It is important you have an efficient system of record-keeping. Any trade documents that are held on a computer system, should have an audit trail – this means keeping a log of any amendments in the system.
It’s essential that you have a robust system for keeping trade documents. This will help you conform to international trade regulations and allow HMRC to carry out audits effectively. Your records must be:
- Exact and up to date
- Easily assessable whether held on paper, computer, microfiche or microfilm
- Ready for inspection at all practical times
Make sure you:
- have the ability to download data for any off-site checks or audit work that HMRC officers might need to carry out
- have in place, and maintain adequate back up/disaster recovery systems
- include the computer system in your annual audit
- give advance notice to HMRC of any planned operating system changes
It’s essential that you have a robust system for keeping trade documents, we provide secure file storage, archive records storage, archive scanning and file scanning services to suit your needs.
If your record-keeping is causing storage problems or undue expense, Ring DataSpaceUK Ltd on 01606 331115 and we can help keep all your trade documents safe, secure and compliant.