Capital allowances... how long to keep receipts ?

landlord

Frequent Poster
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932
For rental property capital allowances you can offset 12.5% over 8 years. I have always kept the receipts for the expenditure, a separate envelope for a separate year. However with multiple properties this is getting to be a pain in the backside. How long do you legally have to hold onto receipts for? thanks.
 

jpd

Frequent Poster
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2,106
You could scan them and keep digital copies.

You might also need them for CGT if/when you dispose of the properties

Revenue can go back as far as they want if they suspect fraud or tax evasion
 

NoRegretsCoyote

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2,008
I am hopeless with paper files so I scan everything and store them online.

Do Revenue ever look for originals?
 
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