A fiscal year (also called a financial year or tax year) is a 12-month period used for accounting and budgeting — and it often doesn't line up with the calendar year. Here's when the financial year starts in major countries, and why the dates vary so much.
To count days or working days within any fiscal period, use the date calculator.
What is a fiscal year?
A fiscal year is any 12-month span a government or business uses to report finances, file taxes, and set budgets. It can start on any date — many organisations use 1 January–31 December (matching the calendar), but plenty don't, for historical or seasonal reasons.
You'll see it abbreviated as FY — e.g. "FY2026" usually means the fiscal year that ends in 2026 (conventions vary by country).
Fiscal year dates by country
| Country | Government / tax fiscal year |
|---|---|
| United States (federal) | 1 Oct – 30 Sep |
| United States (personal tax) | 1 Jan – 31 Dec (calendar) |
| United Kingdom (personal/income tax) | 6 Apr – 5 Apr |
| United Kingdom (government & corporation tax) | 1 Apr – 31 Mar |
| India | 1 Apr – 31 Mar |
| Australia | 1 Jul – 30 Jun |
| Japan | 1 Apr – 31 Mar |
| Canada (federal government) | 1 Apr – 31 Mar |
| Canada (personal tax) | 1 Jan – 31 Dec (calendar) |
| China | 1 Jan – 31 Dec (calendar) |
| Germany, France, most of EU | 1 Jan – 31 Dec (calendar) |
Individual companies can often choose a different fiscal year from their government — many retailers, for example, end their year after the holiday season.
Why doesn't the fiscal year match the calendar?
- Historical reasons. The UK's odd 6 April personal tax year traces back to the old "Lady Day" (25 March) quarter day, plus calendar-reform adjustments when Britain switched from the Julian to the Gregorian calendar in 1752.
- Seasonality. Australia and others align the year to avoid splitting a peak season across two reporting periods.
- Budget cycles. Governments pick a start that fits their legislative and planning calendar (the US federal year begins 1 October).
Quick answers
What is a fiscal year? A 12-month accounting period for budgeting and tax. It can start on any date and often differs from the 1 January–31 December calendar year.
When does the UK tax year start? The UK personal tax year runs 6 April to 5 April. The UK government and corporation-tax financial year runs 1 April to 31 March.
When does the US fiscal year start? The US federal government's fiscal year runs 1 October to 30 September. Personal income tax uses the calendar year.
What does FY2026 mean? It refers to a specific fiscal year — usually the one ending in 2026, though the exact convention varies by country and organisation.