UK | Company Tax - Access lost to all Xero tax reports if Xero sub cancelled
We've just found out to our horror that we lose access to ALL Xero historic accounts and tax filings prepared and submitted through Xero Tax for a client if the Xero sub is cancelled.
Apparently this is because Xero needs to maintain access to the live data even for filed returns. Therefore, there has to be a process where ALL accounts and tax comps must be downloaded and stored elsewhere each year. We think that's crazy and that all filed returns should be stored in Xero Tax as PDFs. If nothing else, there should be a flag warning us! This has come up because we have a client who has closed down and no longer showing on Xero TaxXero Tax
Penny Rowden
shared this idea
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Xero Ideas at GT
commented
If this is true then this needs to fixed asap.
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Freya Pieroz
commented
Don't we need to keep certain records for a minimum of 5 or 7 years (or possibly more) depending on the country? Removing our access to these records means we may be in breach of our legal responsibilities through no fault of our own.