What Is the UK Financial Year? Personal vs Company Dates

Quick answer: The UK financial year (also called the tax year) runs from 6 April to 5 April the following year. For individuals and HMRC purposes, the current financial year is 2026/27, running from 6 April 2026 to 5 April 2027. For limited companies, the financial year is set by your accounting reference date which is not necessarily April.

Key Takeaways

Most people assume the UK financial year runs from January to December like a calendar year. It doesn't. It never has. And if you've just set up a limited company, or you're trying to figure out when your accounts are actually due, this distinction matters enormously.

There are actually two different financial year frameworks operating in the UK at the same time. One applies to individuals and HMRC's personal tax system. The other applies to limited companies. They're not the same, and confusing them is one of the most common mistakes new business owners make.

This guide explains both; clearly, accurately, and with the dates you actually need for 2026.

What Is a Financial Year in the UK?

A financial year is the 12-month accounting period used to report income, calculate tax, and prepare financial statements.

You'll hear several terms used interchangeably in the UK:

• Financial year - the general term, used for both companies and individuals
• Tax year - typically used when referring to personal income tax and Self Assessment
• Fiscal year - often used in a government or public spending context
• Accounting year / accounting period - used in the context of Corporation Tax for limited companies

When Does the UK Financial Year Start and End?

This depends on who you're asking about.

For individuals and HMRC (personal tax)

The UK personal tax year has fixed dates that never change:

• Financial year start date: 6 April
• Financial year end: 5 April the following year

So the financial year 2026/27 runs from 6 April 2026 to 5 April 2027.

This applies to Income Tax, Self Assessment, PAYE, National Insurance, and most personal tax obligations.

For limited companies

Companies have their own financial year, determined by their accounting reference date (ARD). This is set by Companies House when you incorporate and defaults to the last day of the month in which your company was registered.

Example: If you incorporated on 14 September 2026, your ARD will be 30 September. Your first financial year runs from 14 September 2026 to 30 September 2027 (slightly over 12 months). From year two, your financial year runs from 1 October to 30 September each year.

This means your company's financial year almost certainly does not run from 6 April to 5 April - unless you've deliberately chosen that date.

What Financial Year Are We In Right Now?

The current tax year is 2026/27, running from 6 April 2026 to 5 April 2027.

For your limited company, sign in to your HMRC business tax account to confirm your accounting period dates.

What Is a Company's Financial Year and How Is It Different?

Here's where many limited company directors get confused. Your company's financial year is not the same as the HMRC tax year unless you've specifically aligned it.

When Companies House registers your company, it assigns you an accounting reference date (ARD) - the last day of your financial year. According to Orrick's legal FAQ, this defaults to the last day of the month in which you were incorporated.

Your Corporation Tax accounting period typically matches your company financial year and cannot be longer than 12 months (GOV.UK).

How to Change Financial Year?

To change your financial year, you need to notify Companies House by filing a change of accounting reference date (ARD).

This process can be completed online or by submitting form AA01 by post. It’s important to note that changing your financial year may affect your Corporation Tax accounting period, as it typically aligns with your financial year. If your new financial year exceeds 12 months, you will need to file two Corporation Tax returns to cover the extended period, as the accounting period for Corporation Tax cannot be longer than a year (GOV.UK).

Ensure you consult with an accountant or tax professional to understand the implications, including how this change might influence your tax obligations and filing deadlines. Filing corporation tax return for small businesses is our area of expertise; trusted by 26,000 businesses across the UK, we at Debitam can untangle your financial year and complete your corporation tax return with HMRC within a few days.

Staying proactive and ensuring all changes are submitted accurately and on time can help you maintain compliance while minimizing disruptions to your business operations.

Fiscal Year vs Financial Year: What's the Difference in the UK?

The terms are often used interchangeably, but there are subtle distinctions worth knowing:

One subtle point: the UK government's fiscal year runs from 1 April to 31 March, slightly different from the personal tax year, which starts on 6 April. This matters if you're reading budget announcements or public spending figures, which reference the 1 April cycle.

For most limited company owners, the term you'll use most is "financial year" or "accounting period" and both refer to your ARD-based 12-month cycle.

Key Dates in the Financial Year You Should Know (2026/27)

TL;DR on Company Financial Year

• The UK personal financial year runs from 6 April to 5 April. The current year is 2026/27.
• Your limited company's financial year is different - it's based on your accounting reference date, set by Companies House at incorporation.
• The end of your company's financial year determines your filing deadlines for both Companies House and HMRC.
• "Fiscal year," "financial year," and "tax year" are broadly interchangeable in everyday UK usage, but refer to different specific dates depending on context.
• You can change your company's ARD, but there are restrictions - particularly on lengthening the year.

Unsure Where Your Company's Financial Year Sits? Debitam Can Help

Knowing your financial year dates is the first step. Meeting the deadlines that follow is where it gets serious.

At Debitam, we work with limited company directors every day, handling year-end accounts, Corporation Tax returns, and all the Companies House and HMRC compliance that goes with them. No hidden fees, no jargon, no chasing. Just straightforward, online accounting support from people who actually know their way around an accounting reference date.

If you're unsure when your financial year ends, what you need to file, or whether your accounting period is correctly set up, get in touch with Debitam today. We'll make sure you're on the right footing before deadlines start stacking up.

Frequently Asked Questions about UK Financial Year

What is a financial year in the UK?

A financial year is a 12-month period used for tax reporting and accounting. For individuals, the UK financial year runs from 6 April to 5 April. For limited companies, it runs from the start of their accounting reference date to the same date the following year - which varies by company.

When does the new financial year start in the UK?

The new financial year for individuals and HMRC starts on 6 April each year. The 2026/27 financial year began on 6 April 2026. For limited companies, the new financial year starts the day after their accounting reference date.

When does the financial year end in the UK?

The personal tax year and HMRC financial year ends on 5 April each year. The 2025/26 financial year ended on 5 April 2026. For limited companies, the financial year ends on their accounting reference date, which differs from company to company.

What financial year are we in right now?

The current UK tax year is 2026/27, which runs from 6 April 2026 to 5 April 2027. For your limited company, your financial year depends on the accounting reference date set when your company was incorporated.

Why does the UK financial year start on 6 April and not 1 January?

The UK financial year starts on 6 April because of a calendar change made in 1752. When Britain switched from the Julian to the Gregorian calendar, 11 days were dropped from the year. To avoid losing tax revenue, the Treasury moved the financial year start from 25 March to 5 April. A further adjustment in 1800 pushed it to 6 April, where it has remained ever since.

Is the fiscal year the same as the financial year in the UK?

In everyday use, the terms are largely interchangeable. However, the fiscal year often refers to the government's spending year (1 April to 31 March), while the tax year runs from 6 April to 5 April, and a company's financial year is based on its individual accounting reference date.

Can my limited company's financial year be different from the HMRC tax year?

Yes. Your company's financial year is determined by your accounting reference date, which is set by Companies House, usually the last day of the month you incorporated. Most companies do not have an ARD of 5 April unless they have specifically changed it to align with the personal tax year.

Can I change my company's financial year end?

Yes, you can change your accounting reference date by submitting form AA01 to Companies House. You can shorten your year as many times as you like, but you can only lengthen it once every five years. You cannot change your ARD if your annual accounts are already overdue.

What happens if my Corporation Tax accounting period is longer than 12 months?

If your company's financial year extends beyond 12 months, for example, in your first year of trading, you will need to file two separate Corporation Tax returns with HMRC, because an accounting period for Corporation Tax cannot exceed 12 months.