financial year

financial year
an accounting period of 12 months, often coincident, for convenience, with the fiscal year (1 July to 30 June). Glossary of Business Terms
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The year for which corporation tax rates apply. It runs from 1 April one year to 31 March next year and is denoted by the year in which it starts. For example, the financial year 1998 starts on 1 April 1998 and ends on 31 March 1999. Contrast this with the fiscal year, which is the tax year for income tax and capital gains tax suffered by individuals. Dresdner Kleinwort Wasserstein financial glossary
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The year for which corporate tax rates apply. It runs from April 1 of one year to March 31 of the next year. London Stock Exchange Glossary

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financial year financial year ➔ year

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   The year used for a company's accounting purposes. It can be a calendar year or it can cover a different period, often starting in April. It can also be referred to as the company's fiscal year.

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financial year UK US noun [C] (mainly UK
► ACCOUNTING a period of twelve months for which a company prepares its accounts. In the UK, this period often ends at the end of March: the current/previous/next, etc. financial year »

Profits for the current financial year are expected to rise more than 20%.

 the beginning/end/second half, etc. of the financial year »

In the second half of the financial year, we were successful in winning several new contracts.

 »

He was paid over £700,000 in the financial year to March 2010.

→ Compare FISCAL YEAR(Cf. ↑fiscal year), TAX YEAR(Cf. ↑tax year)

Financial and business terms. 2012.

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