Definition of tax year in English:

tax year

noun

  • A year as reckoned for taxation (in Britain reckoned from 6 April):

    ‘the tax year 2004/5’
    • ‘Now that the new tax year has started, parents will find themselves with a selection of new rights aimed at improving family life.’
    • ‘If you do this within six months of the end of the tax year they will issue you with a Self Assessment return to complete.’
    • ‘Over the weekend, a friend of mine was trying to work out how much she'd be getting in her pay packet after the new tax year starts on 6 April.’
    • ‘The due date for any extra tax that you have to pay is 31 January after the end of the tax year.’
    • ‘An individual can claim a standard rate tax credit in respect of home loan interest he has paid in the tax year.’
    • ‘Had tax deducted from savings interest or share dividends during a tax year when you weren't working or earned very little?’
    • ‘The adviser went through the usual ritual of asking whether I had already opened any ISAs in the current tax year.’
    • ‘You receive a notice of coding before the beginning of the new tax year in April, and these should start arriving soon.’
    • ‘Furthermore, trading volumes tend to reduce again in the second quarter, following the end of the fiscal tax year.’
    • ‘An individual is regarded as resident in Britain if he spends 183 or more days in Britain during a tax year.’
    • ‘This week's column coincides with the start of the new tax year.’
    • ‘There are just a few days left before the current tax year comes to an end.’
    • ‘Experts usually recommend that you top up your pension before the end of the tax year.’
    • ‘It means that the deadline for being able to receive the full allowance for the current tax year is today.’
    • ‘It is also useful for women who have been on maternity leave, as they can use carry back to claw back some of the tax paid in the tax year before they took a break from work.’
    • ‘Always give enough time before the end of the tax year to cover these contingencies.’
    • ‘Say we were to set up our payment for £100 each month over the course of a tax year.’
    • ‘The change to a single date of pay and file is to facilitate the move from an April to April tax year to a calendar year tax year.’
    • ‘However, there is no cap on how much your employer can contribute to your pension in a tax year.’
    • ‘Note the above figures refer to the next tax year, which begins on 6 April.’
    twelve-month period, twelve-month session
    View synonyms

Pronunciation:

tax year

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