Online Statements

This is not quite a tax saving tip, but taking this advice could save you money.  Many banks and businesses are encouraging you to receive online bills and statements, rather than sending paper copies in the post.  If any statements, bills etc. are used to prepare your tax return you will need to retain copies to support the return.

You may not have access to online statements and information indefinitely.  Some businesses are only making a rolling six months of statements available.  If you don’t download a store copies of statements as you go then you may need to pay for copy statements at a later date.  It can therefore, save you money by getting into the habit of downloading statements and documents throughout the year, as well as storing them and backing them up.

Extract taken from our 2010 Summer edition Tax newsletter – if you would like to subscribe please leave your details here.

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