Document Retention Policy

Document Retention Policy

TDLC requires that different types of records be retained for a specific period of time to

comply with UK legislation ESF funding and match funding as well as good practice.

We requires consistent treatment of records. Maintenance, retention, and disposal

procedures for the firm’s records must be followed systematically by all staff.

This policy is intended to ensure that the firm meets both legal and contractual

requirements.

Purpose

The purpose of this policy is to ensure that necessary records and documents are

adequately protected and maintained and to ensure that records that are no longer

needed or of no value are discarded at the appropriate time. Records management

and retention policies apply to all records, regardless of format. In today’s

environment, employees create and maintain an increasing portion of their records

using computers. Electronic records must be managed alongside traditional records to

ensure compliance with the Data Protection Act and other UK legislation.

Individuals responsible for the retention of records are also responsible for the

destruction of records following the retention period. Records must be destroyed by

shredding or other means to ensure that all sensitive or confidential material can no

longer be read or interpreted.

Definitions

For the purpose of this policy, “record” shall be interpreted to mean:

any papers, files, books, photographs, tapes, films, recordings, or other documentary

materials, or any copies thereof, regardless of physical form or characteristics, made,

produced, executed, or received by any staff member in connection with the

transaction of TDLC’s business.

The term “electronic record” means any record that is created, received, maintained or

stored on local workstations or central servers.

 

Examples include, but are not limited to:

1. electronic mail (e-mail)

2. word processing documents and spreadsheets

3. databases – all data generated via automated information systems

including but not limited to file records, learner files and portfolios, financial

accounting records, and payroll records.

“Official records” are the records maintained by the Admin department. Examples

include, but are not limited to:

TDLC Document Retention Policy 

Accounts – all financial records, VAT records, payroll records, company bank

accounts, etc

IT (Information Technology) – electronic records, etc.

Personnel records, insurance records, etc.

Board minutes, etc.

Procedures

Each department will retain a listing of major documents used and maintained by the

department detailing retention and destruction timetables (schedules). These

schedules should be in accordance with all UK legislation and funding requirements.

In addition, each department will review annually its records and forms to determine

whether retention of these records and forms is adequate and appropriate.

Records retention

Record retention periods may be increased by government regulation, judicial or

administrative consent order, private or governmental contract. Such modifications

supersede the requirements listed in this policy.

No document list can be exhaustive. Questions regarding the retention period for any

specific document or class of documents not included in the below table should be

addressed to the Managing Director.

Records Retention and Destruction Policy Tables

Type of Record Retention Period

Institutional and Legal Records

Articles of Incorporation Permanent

Minutes of Meetings Permanent

Licenses Active + 6 years

Insurances etc Active + 6 years

Deeds and Titles Permanent

Leases Active + 6 years

Policy statements Permanent

Contracts Active + 6 years

Employee Applications and Employment Listings

Job Announcements and Advertisements 2 years

Documentation on Individuals not hired 2 years

Individuals who are hired Active + 6 years

Individual employee files and wage history Active + 6 years

Personal Files / Payroll Records

Employee files/documentation Permanent

Salary or current rate of pay Active + 6 years

Payroll Deductions Active + 6 years

Timecards/sheets Active + 6 years

Employee manuals/ Handbook Permanent

TDLC Document Retention Policy 

Accounts and Financial Records

Sales and Purchase Invoices Active + 6 years

Tax Returns Active + 6 years

Balance Sheet Active + 6 years

General Ledgers Active + 6 years

Account Ledgers Active + 6 years

Auditor's reports Active + 6 years

Bank Statements Active + 6 years

ESF Match Funding

Learner Data and Documents (2007/2013) Fixed to 31/12/2022

Learner Data and Documents (2014/2020) Fixed to 31/12/2029

Learner documentation

Learner Data, documents and certificates Active + 6 years

Electronic documents

Emails (generic) 2 years

Facsimiles 2 years

Scanned documents 2 years

Any Bank/credit card details held should not be kept, and should be destroyed.