I have one large ring binder which holds everything for the current tax year, including utilities, credit card and bank statements. And I have seven A4 wallets, one for each of the previous seven tax years.
When all the paperwork is finally in for the tax year, P60s, interest statements etc, it's transferred from the binder to a plastic wallet and labelled, for example, "Tax year 2017/18, scrap 4/2025. So each year, it's easy to scrap the oldest documents without having to think too much and reuse the wallet for the newly completed tax year paperwork.
Someone mentioned throwing away old receipts when the guarantee has expired - BAD IDEA!!! We had to claim for a carpet once and had ditched the paperwork. It was the first thing the insurance company wanted, to help judge how much to pay out. Keep receipts until you no longer have the goods.