What is the tax year in the UK and what is its beginning and ending?

[accountinglads]

The UK tax year is the 12 months time span under which the personal tax liabilities are computed. It marks a day that starts on 6 April and closes the next year 5 April. This odd time is traced to past calendar shifts but has been a norm to both people and companies. It is necessary to know the dates of the tax year to facilitate easy registration of all the records in time, and remain in boyant compliance with the HMRC decree. The self employeds, employees and employers must ensure that they align their financial papers and submissions within these dates lest they pay penalties.

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