{"id":5322,"date":"2018-08-22T17:16:15","date_gmt":"2018-08-22T16:16:15","guid":{"rendered":"https:\/\/sagestaging.wpengine.com\/en-gb\/blog\/?p=5199"},"modified":"2026-01-29T10:32:58","modified_gmt":"2026-01-29T10:32:58","slug":"financial-year-end-guide","status":"publish","type":"post","link":"https:\/\/www.sage.com\/en-gb\/blog\/financial-year-end-guide\/","title":{"rendered":"Financial year end: A quick-start guide for your business"},"content":{"rendered":"
\n\t
\n\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\tMoney Matters<\/a>\t\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t
\n\t\t\t\t\t

\n\t\t\t\t\t\tFinancial year end: A quick-start guide for your business\t\t\t\t\t<\/h1>\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t

\n\t\t\t\t\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n\t

\n\t\t
\n\t\t\t
\n\t
\n\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\n\t\t
\n\t\t\t\n\t\t\t\t\"\"\t\t\t\tKeir Thomas-Bryant<\/span>\n\t\t\t<\/a>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n\n

Your financial year end (also called your “accounting year end”) is a key date in your business calendar. It\u2019s when the financial year finishes for your business. Businesses have different financial year ends.<\/p>\n\n\n\n

At your year end you should prepare annual accounts<\/mark>, detailing your sales, costs and profit\/losses for the financial year. The figures in your annual accounts can help you complete your corporation tax return (if you run a company) or your self-assessment tax return<\/a> (if you\u2019re self-employed).<\/p>\n\n\n\n

If you own or run a limited company, by law you (or your accountant) must prepare annual accounts and send them to Companies House and to any shareholders. You may also want to send a copy to interested parties such as your bank.<\/p>\n\n\n\n

\n\t
\n\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t\t

Taking care of tax if you’re self-employed<\/h2>\n\n\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t

Getting your taxes right is vital. Read this guide for support with Self Assessment, and learn how Making Tax Digital will change how you manage your tax returns from April 2026.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\tGet your free guide<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\"\"\t\t\t<\/div>\n<\/div>\n\n\n\n

Choosing your financial year end<\/strong><\/h2>\n\n\n\n

If you\u2019re self-employed, you decide your financial year end date<\/mark>. If you set up a company, Companies House will give you an accounting reference date to use for your accounts, which will be at the end of the month, one year later.<\/p>\n\n\n\n

Either way, after your first accounting year end, the next one will automatically be a year later (unless you choose to change your year end).<\/p>\n\n\n\n

Many businesses choose 31 December to match the calendar year. You may prefer 31 March, to tie in with the date when tax rates and rules usually change. Or you might aim to choose a quiet time of year for your business, when you have more time to sort out financial paperwork.<\/p>\n\n\n\n

The date you choose can affect how soon you must pay tax on your profits, so you may want to take advice from an accountant on the best date to choose.<\/p>\n\n\n\n

Year end accounts<\/strong><\/h2>\n\n\n\n

The year end accounts you produce will depend on your requirements and those of Companies House, HMRC and your shareholders or any lenders.<\/p>\n\n\n\n

Typically, your accounts include:<\/p>\n\n\n\n