If your business is required to complete a TPAR, you need to keep records about payments made to contractors for providing certain services. Some government entities also need to report payments and grants they have made in a TPAR.
Your records need to show the contractor's details and the payments made to them for supplying:
- building and construction services
- cleaning services
- courier services
- road freight services
- IT services
- security, investigation or surveillance services.
The types of records you need to keep include:
- invoices from each contractor
- written contracts
- reimbursements made to contractors
- invoices, receipts created or otherwise, showing how payments were made
- receipts or evidence of insurances or licences you held or maintained for workers.
If you keep manual records, you can download a taxable payments reporting worksheet (PDF 75KB)This link will download a file to help track contractor payments throughout the financial year. You can use the details in the worksheet to complete your TPAR but you don't need to send the worksheet to us.
You need to keep these records for 5 years starting from when you prepared or obtained the records or completed the transactions or acts those records relate to, whichever is later.
There are some situations where you will need to keep records for longer than the general 5-year retention period.Work out what records you need to keep to complete a Taxable payments annual report (TPAR).