Turn yourself into a personal organiser

If you've just been through the trauma of sorting out your tax and returning your self-assessment form by the end of last month to meet the Inland Revenue's deadline, then you may well have vowed to keep your paperwork in better order from now on.

Even if this does not apply, the chances are you will need to sort through what is, for most people, a mounting pile of financial documents. But how long should you keep records and how do you get hold of copies if you need them?

Tax and keeping proper records

It's particularly important to hold on to anything to do with tax, as the Inland Revenue can investigate your affairs going back six years.

You can be fined up to £3,000 if you fail to keep proper records. If in doubt, ask your accountant. Also, if you don't keep proper records you may not be able to prove your income and expenses, which could mean you end up paying more tax than you need to.

In order to fill in your tax form, you will need to file the vital documents you are sent at intervals throughout the year. These are:

· P60 end of year form

· P11D benefits statement

· P45 if you changed jobs

· dividend vouchers from shares and investments

· statements of building society interest

· evidence of capital gains

· rental income statements

Make sure that you record any financial gifts you make; if you are passing gifts of money or assets to relatives or children, you need to keep a record of these for at least seven years.

Shares and share certificates

Never throw away share certificates, and keep them in a safe place. It can be difficult and costly to prove that you are the owner of shares if you are unable to produce the certificate. As they are so valuable, most people hold their shares in electronic form in a 'nominee account', to reduce the risk of damage or theft.

If your share certificates have been lost or stolen, you will need to prove you are the owner. You can obtain a replacement by completing a Form of Indemnity from the registrar, which holds the share records. The company in which you hold the shares can tell you the name of its registrar.

Your pension contributions

Annual pension statements will show the current value of your fund, as well as your expected level of income at retirement. You may need to prove that you have made pension contributions in order to get tax relief when you fill in your tax form.

If you have lost track of your previous pensions, you can use the tracing service available from the Pension Service. You need to fill out a form online or write requesting a tracing form to: Pension Tracing Service, Tyneview Park, Whitley Road, Newcastle upon Tyne, NE98 1BA; 0845 6002 537.

You will be asked to supply as many details as you can about your pension. There are more details on the website: www.pensions service.gov.uk

Your mortgage and your home

Keep mortgage statements for at least three years and preferably six. Read through before you file them to check you are not paying too much interest.

Make sure that you know where the deeds to your house are. If you have paid off the mortgage, you may be offered the deeds back by your building society. Since October 2003, the Land Registry keeps copies of deeds electronically. So if you bought your house after then, you'll be able to get the records electronically. If not, your solicitor or building society will pass them to you for a small fee.

Bank statements and credit cards

Keep bank statements for three years, or six if you need these for your tax return to prove any savings interest earned. If you need to ask your bank to provide copies of your old statements because you have lost them, they could charge between £2.50 and £10 for each statement. Many online banks archive statements of more than a year old, and you may have to pay to access the archive - so print out online statements.

Making insurance claims

Keep receipts for valuable items for at least three years - preferably away from your home - in case you need to show proof of purchase to your insurance company after a flood, fire or burglary. If you have any items of high value, for example jewellery, you should hold on to the receipts indefinitely. Many insurers won't pay out on claims unless you have evidence of purchase.

Proof of identity

Look after your birth certificate. New money laundering regulations mean that when you open a new bank account you will be required to produce your birth certificate or passport, along with two or three documents that show proof of address.