The UK tax year runs from 6 April to the following 5 April. We are now in the 2026/27 tax year, which started on 6 April 2026 and ends on 5 April 2027. That is the year for income tax, capital gains tax and personal allowances. Companies and government work to a different "financial year", 1 April to 31 March, so corporation tax is currently set for financial year 2026 (1 April 2026 to 31 March 2027). Below are the dates for the current and recent tax years, how the financial year differs, and the deadlines that hang off each.
Tax year dates: current and recent years
The rule is statutory. Section 4 of the Income Tax Act 2007 provides that "a tax year begins on 6 April and ends on the following 5 April". Years are named by the calendar years they span, so the tax year 2026-27 is the one beginning on 6 April 2026. The same tax year applies across the UK, including Scotland, even though Scottish income tax bands differ.
| Tax year | Starts | Ends | Online return due |
|---|---|---|---|
| 2027/28 | 6 April 2027 | 5 April 2028 | 31 January 2029 |
| 2026/27 (current) | 6 April 2026 | 5 April 2027 | 31 January 2028 |
| 2025/26 | 6 April 2025 | 5 April 2026 | 31 January 2027 |
| 2024/25 | 6 April 2024 | 5 April 2025 | 31 January 2026 (passed) |
For anyone searching for tax year 2024/25: it ran from 6 April 2024 to 5 April 2025. The online return deadline was 31 January 2026, but the year is not entirely closed. HMRC confirms that you can usually amend a 2024/25 return until 31 January 2027. Claims for overpaid tax for that year generally remain open for 4 years after the end of the tax year, until 5 April 2029.
What financial year are we in?
"Financial year" means different things in different contexts:
- Government and corporation tax. The Interpretation Act 1978 defines the financial year, for central taxes and public finance, as "the twelve months ending with 31st March". We are in financial year 2026, from 1 April 2026 to 31 March 2027. Corporation tax rates are set per financial year. For FY2026, the main rate is 25% and the small profits rate 19%, under the Finance Act 2025;
- Your company's financial year. A company's accounts run to its own accounting reference date, which need not be 31 March. Corporation tax is charged on its accounting periods. Where an accounting period straddles 1 April and the rates differ between financial years, the profit is time-apportioned: HMRC works out how many days each rate applied;
- Individuals' business years. Sole traders and partners are now taxed on "the full amount of the profits of the tax year" (section 7 of the Income Tax (Trading and Other Income) Act 2005), so profits for accounts not ending on 5 April or 31 March are apportioned to the tax year. Our guide to the new self-employed tax rules explains what that means for businesses whose accounts do not end on 5 April or 31 March.
Key dates for the rest of 2026/27
| Date | What happens |
|---|---|
| 31 October 2026 | Paper 2025/26 Self Assessment return must reach HMRC (a Saturday: post early) |
| 7 November 2026 | Making Tax Digital quarterly update deadline (for those in MTD) |
| 30 December 2026 | File 2025/26 online by now to have tax under £3,000 collected through your tax code |
| 31 January 2027 | 2025/26 online return and balancing payment due, plus first payment on account for 2026/27 (a Sunday) |
| 7 February 2027 | MTD quarterly update deadline |
| 5 April 2027 | End of the 2026/27 tax year: last day to use this year's £20,000 ISA allowance; last day for most claims for 2022/23 |
| 6 April 2027 | 2027/28 begins |
| 7 May 2027 | MTD quarterly update deadline |
| 31 May 2027 | Employers give P60s for 2026/27 |
| 6 July 2027 | P11D and P11D(b) for 2026/27 due |
| 31 July 2027 | Second payment on account for 2026/27 (a Saturday) |
| 5 October 2027 | Deadline to register for Self Assessment for 2026/27 |
When a payment deadline falls at a weekend, some payment methods must reach HMRC by the last working day before. See our guide to paying Self Assessment tax. New Self Assessment filers should note the 5 October rule; our guide to registering for Self Assessment covers it.
What changes when 2027/28 starts
Several changes already legislated or confirmed take effect on 6 April 2027, which makes the 2026/27 year end more significant than usual:
- Savings income will be taxed at 22%, 42% and 47%, up from 20%, 40% and 45% (Finance Act 2026, section 5);
- Property income will have its own rates of 22%, 42% and 47% in England and Northern Ireland (Finance Act 2026, section 7). The Scottish Parliament and the Senedd set property rates for Scottish and Welsh taxpayers from 2027/28 (section 8);
- Cash ISAs. Savers under 65 will be limited to £12,000 a year within the £20,000 overall ISA allowance;
- Making Tax Digital extends to sole traders and landlords with qualifying income over £30,000.
Dividend tax has already risen: from 6 April 2026 the rates are 10.75% and 35.75% in the basic and higher bands. See our guide to dividend tax. Taken together, these changes mean the timing of income, such as interest, rent, dividends and bonuses, across 5 April 2027 can matter more than usual.
Acumon keeps clients' deadlines on a single calendar through our tax compliance service, and plans year-end timing through tax planning. If any of the April 2027 changes affect you, the time to plan is before 5 April 2027.