Record-Keeping Basics for UK Freelancers

Good records make tax season boring, not painful. Set a lightweight system and stick to it.

What to keep

• Invoices issued and received.
• Bank statements and payment processor exports.
• Receipts for business costs.

How to keep it

• One business bank account for all trading.
• Monthly folder for documents.
• Spreadsheet or accounting tool with basic categories.

Routine

• Weekly: capture receipts.
• Monthly: reconcile bank transactions.
• Quarterly: estimate tax and set aside cash.

Retention

• Keep records for required years in the UK.
• Store backups in the cloud and locally.