What Records Should Freelancers Keep for Tax in the UK?
Staying on top of your tax records isn’t just good practice — it’s a legal requirement for UK freelancers. Here’s what to track, how long to keep it, and the easiest tools to help.
📁 1. Income Records
You must record all income from freelance work, including:
- Invoices issued
- Bank deposits
- PayPal/Stripe summaries
- Platform earnings (e.g. Upwork, Fiverr)
👉 Use a dedicated freelance bank account to keep income clear.
💳 2. Business Expenses
Track everything you claim as a deduction:
- Equipment and software
- Travel and mileage
- Office/studio rent
- Phone, broadband, subscriptions
- Insurance and accounting costs
👉 Stay organised with a dedicated tool.
📅 3. Mileage and Travel
Log any business-related travel:
- Date, destination, purpose
- Miles driven (45p per mile for the first 10,000 miles)
Even short client visits can add up — keep a simple spreadsheet or use tools like QuickBooks Self-Employed.
📄 4. Invoices & Receipts
HMRC may ask for proof, so keep:
- Copies of all invoices (sent and received)
- Receipts for expenses
- Digital copies are fine (scan or photo)
🗓️ 5. How Long Should You Keep Records?
You’re legally required to keep tax records for at least 5 years after the 31 January submission deadline of the relevant tax year.
So for 2024/25 taxes, keep your records until 31 January 2031.
📌 Final Thoughts
Keeping solid records doesn’t have to be stressful. The right tools and systems make tax time much easier — and protect you in case of HMRC checks.
👉 Explore our Freelancer Toolkit for tools that simplify everything from banking to bookkeeping.
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