Financial Year

A company’s financial year is the twelve-month period that is referred to in its annual financial accounts. It can start on any date of the company’s choosing; when a company is started, it can manipulate the starting date of its financial year for future years by having a slightly longer or shorter first year. This is perfectly normal, and can be done to suit business needs, or to coincide with the tax year. The UK government’s financial year (the tax year) begins on 6th April and ends on 5th April each year.

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