Change start of tax year to 1 April or 1 January

Change the start of the tax year from 6 April to 1 April, or perhaps to 1 January.

Why does this idea matter?

Most businesses maintain accounts on a calendar month basis. The tax year currently starts on an odd date i.e. 6 April and so is not aligned with company accounting periods. This complicates processes which involve both company accounts and the tax year, e.g. working out what expenses and benefits to put on a P11d form or what class 1A NI contrubutions are due.

Leave a comment

Your email address will not be published.


*