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Question for Treasury

UIN HL3116, tabled on 14 October 2021

To ask Her Majesty's Government what plans they have, if any, to change the tax year end to 31 March each year.

Answered on

29 October 2021

The Government has no plans to change the tax year end to 31 March each year. On 15 September 2021, the Office for Tax Simplification (OTS) published a report exploring a change to the date of the tax year end. The report found that, although there would be simplification benefits of moving the tax year, the transitional costs to Government and the private sector would be significant. The OTS does not consider that such a change should take place in the immediate future.

Answered by

Treasury