For example, the US federal government fiscal year starts on October 1, 2024 and ends on September 30, 2025, this is referred to as FY25. Read more on how you can get prepared for the end of fiscal year.
Fiscal Year (FY) 2025 for the U.S. federal government runs from October 1, 2024, to September 30, 2025, but for many businesses, it's often the calendar year (Jan 1 – Dec 31, 2025) or another 12-month period, as fiscal years vary by entity.
A1: The tax year 2024-25 starts on April 6, 2024, and ends on April 5, 2025.
Calendar year – 12 consecutive months beginning January 1 and ending December 31. Fiscal year – 12 consecutive months ending on the last day of any month except December. A 52-53-week tax year is a fiscal tax year that varies from 52 to 53 weeks but does not have to end on the last day of a month.
A company's financial year is a 12-month cycle ending on its accounting reference date (ARD), which determines reporting deadlines. You can change your company's ARD to better suit your operational needs, but you must notify Companies House and HMRC.
To compensate for the lost 11 days, the government extended the tax year to the 5th of April from the 25th of March. In 1800 another calendar correction led to a further adjustment, setting the tax year end on the 6th of April, where it remains today for personal taxation purposes.
Here are several strategies to consider before year-end to help trim your 2025 tax bill.
Income tax return last date for FY 2024-2025 (AY 2025-26) The last date for filing income tax returns for FY 2024-25 (AY 2025-26) is extended to 16 September 2025 from 15 September 2025 for regular taxpayers (such as salaried individuals and those not requiring an audit).
For example, a company's Fiscal Year 2025 (often abbreviated as FY2025 or FY25) may run from Feb. 1, 2025, to Jan. 31, 2026.
Fiscal year-end is the last day of a 12-month accounting period, which is used for financial planning and tax reporting purposes. If a company has a fiscal year-end that is the same as the calendar year-end, it means that its fiscal year ends on Dec. 31.
Intuitively, you may expect it to line up with the calendar year, finishing on the 31st of December. Instead, it's smack-bang in the middle of the year. The 2024/25 financial year finished June 30th 2025, and the new financial year (2025/26) began on July 1st 2025.
The end of financial year on 30 June 2025 is fast approaching so here's a quick checklist to help you prepare in advance and maximise your tax time benefits.
The vast majority of companies choose December 31 as the fiscal year end and if you want to use a different date, be sure to check with tax and accounting advisors.
That means your take home pay will be $55,383 per year, or $4,615.25 per month. Your average tax rate is 20.88% and your marginal tax rate is 32.5%.
Starting from April 1, 2025, significant changes in the TDS (Tax Deducted at Source) provisions has come into effect. These changes aim to reduce the compliance burden on small taxpayers and improve ease of doing business.
April 5th is a day for fun food celebrations like National Deep Dish Pizza Day, National Caramel Day, and National Raisin and Spice Bar Day, alongside meaningful observances such as the UN's International Day of Conscience, Go For Broke Day (honoring military valor), and Gold Star Spouses Day, while also being part of broader awareness months like Sexual Assault Awareness Month and Financial Literacy Month.
The last tax year started on 6 April 2024 and ended on 5 April 2025.
You can choose any date as your company's Financial Year End (FYE). Common choices include 31 March, 30 June, 30 September, or 31 December. Deciding on the FYE is crucial as it determines when your corporate filings and taxes are due each year.
In India, the government's financial year runs from 1 April to 31 March the following year. The financial year from 1 April 2025 to 31 March 2026 would generally be abbreviated as FY 2025–26 or( FY25-26) ( FY2025/26),(FY2025/2026),(FY25/26), but it may also be called FY 2026 or FY26 on the basis of the ending year.