As a business, there are numerous rules you have to comply with. And that is by no means always easy. Indeed, sometimes it is quite a challenge to reconcile the rules. Especially when it comes to record retention periods. There are different guidelines, and the regulations surrounding records retention periods are also changeable.
What should you pay attention to, which rules apply to you and how can you make it easier to store your records, when it comes to large amounts that should not be stored exclusively digitally?
What are the legal retention periods for records
The standard rule is that as a business owner, you must keep records for at least 7 years. Unfortunately, that is not the whole story around records retention periods. In fact, there are a variety of exceptions. For example, records around real estate must be kept for 10 years. This has to do with the input tax deduction for immovable property.
If you provide radio and television broadcasting services, electronic services or telecommunication services, the records must also be kept for 10 years instead of 7 years. So you will be stuck with your folders, papers, receipts and invoices for three years longer.
Does the 7-year retention period for records apply in all other cases? No, because there are exceptions to this too these days. This is because the tax authorities want to make things easier for entrepreneurs, which is why the rules have been relaxed. This applies to all rules except the aforementioned records for which there is a 10-year retention period.
You can make separate agreements with the Tax Authorities about the retention periods for other records. For instance, you can choose to keep the records digitally or make proposals at a detailed level (certain records need to be kept for a shorter period).
Can I directly make my own agreements on retention periods for records?
Yes, but there are some caveats to this. First of all, the agreements only apply once the tax authorities have given their approval and this has been recorded in writing. Also, the agreements only apply between your company and the Tax Administration. Therefore, the agreements do not apply between you and other companies or you and other government institutions. Does another institution require retention periods for your records longer than the period agreed with the Tax and Customs Administration? Then you will still be stuck with the longer period.
Conversion and records retention periods
There are further exceptions. Namely, in certain cases you can also choose to apply conversion. In that case, the data are transferred to a programme, file or other ‘data carrier’. Here, however, everything must be transferred, the content must remain the same and you must also be able to ensure that the data can be transferred to the Tax Administration for inspection within a reasonable time.
Is it worth it?
Making separate arrangements with the Inland Revenue can be challenging. Especially when you are dealing with numerous agencies, all of which have their own record retention periods. In that case, it is more difficult to bend the rules.
But what are your options then? When you have a larger business, it often means you have a particularly large number of papers. Those papers need to be stored properly. Not in expensive office space, because you would like to put it to better use than storing numerous boxes or filing cabinets.
A cheap basement or storage room seems like a great solution when you want to make better use of the office space. But those environments often lack a controlled climate. That means papers can get damp. When this happens, the numbers and letters can no longer be read, making the papers unusable.
On top of that, you would like to comply with the retention period for records to avoid problems. Stashing your data in various basements and storage locations does not exactly contribute to this. Certainly not if you lose track of it or if some of the records are stolen, for example. If it also contains sensitive information, it becomes even more embarrassing.
How can you easily meet record-keeping deadlines?
If you need to keep a lot of records, or choose to keep them to avoid problems, that means a challenge. Unless, of course, you choose Boxie24. This is because we are experts in records storage with which we help numerous companies throughout the Netherlands meet records retention deadlines. This involves external storage at one of our locations.
Not only do we take care of the storage of archive material, we also take care of its management. Do certain documents need to be destroyed, for example because the retention period has expired and you want to make room for new material? Then we will be happy to do this for you in a certified manner.
In doing so, Boxie24 is always as flexible as you want it to be. This goes so far as to let us know what you need or would like for your business and we will ensure that a suitable, tailor-made proposal is put together. We know that every business is unique and every entrepreneur has their own requirements. With services that are always tailored to your wants and needs, we are sure we can help every business in the right way.
Would you like to know what we can do for you in terms of records storage to meet records retention deadlines? Then do get in touch with us so that together we can look at your needs and how we can put together suitable services. We always do this at the lowest price; after all, the aim is to arrange the storage of your papers as cheaply as possible, without you having to worry about it at all.
Having problems meeting the retention period for records because you lack space or do not have enough people to manage them? Then simply call us in.
What about the retention period for private individuals?
For private individuals, there is no record-keeping obligation. That sounds wonderful, but there is a big ‘but’ behind it. This is because the tax authorities are allowed to collect taxes for up to five years. It is therefore strongly recommended to keep important documents anyway, because the burden of proof lies with you if you do not agree with the decision on additional taxes.
Since private individuals often have fewer papers to file, archiving them in folders is often a good option. For example, you can put these at the bottom of a standing wardrobe or in a drawer of your desk. Write on the back of the folder which year or years you put in the folder; this makes it considerably easier to find the right records within a short time. Do you archive different income and expenses in the same folder? Then it might be wise to use tabs to significantly increase the ease of use. Not only while searching back, but also while compiling your own archive.
Do the records retention periods apply to all companies?
All companies registered in the Netherlands must comply with the rules set up by the Dutch legislator. Unless expressly agreed in writing, of course. Not sure whether you have to comply with the record-keeping periods and is your company registered in the Netherlands? If so, there is a maximum chance that the retention obligation will indeed just apply to you.
What can you expect from Boxie24 when choosing records storage?
Do you need to comply with the retention periods for records and would you like to arrange this as easily as possible, without incurring unnecessarily high costs? Then you have come to the right place. We are one of the biggest names in archive storage in the Netherlands. If you wish, we can arrange everything from A to Z to relieve you of all the work and worries.
What can you count on when you use our service to meet the storage deadlines for your records? First of all, a regulated environment so that weather and moisture have no chance of damaging your papers and folders. In addition, our storage locations are secure, which technically means that all folders are always safely stored. So no risk of damage by fire or storm, no water damage and no risk of burglary.
But what if you suddenly need to access a particular folder or data yourself? No problem. We have a viewing service, so you can always access the information you need within a short time. Since we also take over the management of your records storage for you, this means that we take care of everything for you, so you don’t have to worry about anything.
That’s not all, as our service goes much further. For instance, as our customer, you can always use our handy storage boxes. These are, of course, environmentally friendly and easy to use. We deliver the boxes to your office, you put the administration in the boxes and we come and collect the full boxes when you are done. Our advice: label the storage boxes so that you always know which papers you can find in which box. Even if you have little administration now; when it becomes more and more, it is useful to have an overview from day one!
Box collection is completely free of charge. We also offer partial deliveries if you need to revisit the data in between. So you see; Boxie24 is not only incredibly cheap, we also think about the needs you have as an entrepreneur. After all, that is at least as important. When you choose archive storage, it may well be something more than just meeting the legal retention periods for storing records.
For small or for large companies?
Do you have a very small business and need to store small records? Or do you own a very large company with extensive records? Then you might feel that Boxie24 is not for you. Who stores very small records and who has space for numerous pallets of archives?
Well, we do. We always offer a tailor-made solution for those companies that want or need to take their records elsewhere. As a smaller entrepreneur, for example, you choose archive storage per square metre. You divide that space yourself and the space can be expanded when needed. As a large company, you can have complete pallets of records stored with us at attractive prices.
Of course, there are many other options. For example, you can house the archive with us, but keep it in-house. This means that only your employees have access to your records. If you opt for management by us, our screened employees can also access your data. This can be more practical, as you can then request certain data at any time.
You can then request the documents physically, view them on site or have them sent to you digitally in a secure and reliable way. This way, you don’t have to go anywhere yourself and still have the information you need right away. In addition, you can even choose to have your archive digitised. This may also affect the retention period of your records; this depends on the nature of the documents you have digitised, of course.
Administration retention period? No problem with Boxie24
Are you stuck with administration retention periods, but don’t want to lose space due to folders and boxes that end up just getting in the way? Or would you like to be sure that your documents do not suffer water damage, or could possibly be stolen? Then choose Boxie24, the cheapest storage service in the Netherlands. We make sure you can always access your important documents, are happy to digitise them for you and are as flexible as you need us to be.
Want to know what we can do for you? Then contact us today or request a tailor-made, no-obligation quote directly via the website!