Paperwork glossary
A tax assessment sets out the income taken into account, the tax due, what was already paid and the balance to pay or refund. It is often requested as proof of income when renting, borrowing or applying for support.
Also known as: notice of assessment, tax calculation, tax transcript
If you file Self Assessment, HMRC’s SA302 tax calculation and tax year overview serve as proof of income. Employees taxed through PAYE may receive a P800 if they paid too much or too little.
How long to keep it: At least 22 months after the end of the tax year, 5 years after the filing deadline if you are self-employed.
Official services: gov.ukThe IRS does not send an assessment in normal cases: your filed return is accepted as is. Lenders ask for a tax return transcript, available free from your IRS online account. Notices only arrive if something changes.
How long to keep it: Generally 3 years, longer in some situations (up to 7).
Official services: usa.govSent by the Canada Revenue Agency after your return is processed and available in My Account. Quebec residents also receive one from Revenu Québec.
How long to keep it: At least 6 years.
Official services: canada.caIssued by the ATO after you lodge your tax return, and available through your ATO online services in myGov.
How long to keep it: 5 years from lodging your return.
Official services: my.gov.auRules change regularly and can depend on your state, province or region: if in doubt, check with the relevant authority.
Store each assessment in the Vault, filed by year, and record the payment or refund date in your budget.
Ecomely keeps your documents in a secure vault and reminds you before every deadline. Free to start.
