Finance & Moneybeginner
Financial Year
Definition
A 12-month accounting period used by a business or HMRC to measure financial performance, calculate tax, and file accounts, not always January to December.
Why it matters
Your financial year determines when you file tax returns and accounts. Choosing a financial year end date strategically can simplify your tax planning.
Example
A company incorporated in April typically has a financial year running April to March. Their corporation tax return is due 12 months after year-end.
Related terms
Learn the language of business - and build the systems behind it.
Rich Girl Systems turns 1168+ founder concepts into a step-by-step programme with daily challenges, XP and your own assistant.
Take the free founder quiz