Commentary

A1.152 Years, periods and dates

Administration and compliance

A1.152 Years, periods and dates

A1.152 Years, periods and dates

These definitions do not apply if the context otherwise requires.

'Year of assessment' means, a tax year1. In modern tax acts and all the Rewrite Acts, the term 'tax year'2 is generally used in place of 'year of assessment3. A tax year begins on 6 April and ends on the following 5 April4

'The tax year 2007/08' means the tax year beginning on 6 April 2007 (and any corresponding expression in which two years are similarly mentioned is to be read in the same way)5.

'Financial year' means, in relation to matters relating to taxes or finance, the

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