What Is the UK Tax Year?

• The UK tax year runs from 6 April to 5 April of the following year

• It applies to individuals, including sole traders, landlords, and employees

• All Self Assessment tax returns relate to income earned during this period

• HMRC uses this timeframe to apply personal allowances, tax bands, and deadlines

• The current tax year is referred to as 2025/26, covering income from 6 April 2025 to 5 April 2026

 

What Is the Financial Year?

• The financial year (also called the fiscal year) is a 12-month accounting period used for reporting income, expenses, and tax

• For individuals, it usually matches the tax year: 6 April to 5 April

• For limited companies, the financial year is based on the company’s incorporation date

• Companies can choose their own financial year-end and report to Companies House accordingly

• The financial year is used to prepare annual accounts, calculate Corporation Tax, and assess business performance

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How ca we Support You

• Understand and plan around the UK tax year

• File accurate Self Assessment returns for each tax year

• Align business accounts with HMRC deadlines

• Prepare for year-end submissions and avoid penalties

• Educate clients on tax bands, allowances, and compliance

 

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