From Longman Dictionary of Contemporary Englishtax yearˈtax year noun [countable] PETthe period of 12 months in which income is calculated for paying taxes. The tax year begins on April 6th in Britain, and January 1st in the US.
Examples from the Corpus
tax year• They include a credit for companies that boost the amount of research they do that expired for the 1995 tax year.• In this current tax year, children can earn up to £4,385 before tax is levied.• A combination of the two processes means that you can use seven years of unused tax relief in one tax year.• This sum is then included as part of a claimant's taxable income during the relevant tax year.• While taxation was not greatly increased for the tax year 1993/4, people will suffer from measures introduced the following year.• Again, this will particularly hit partners in firms with year ends early in the tax year.• Anyone in this situation can reclaim the tax from their tax office after the end of the tax year in April.• By the end of the tax year, National Savings had invested £39.7 billion-another record figure.From Longman Business Dictionarytax yearˈtax yearACCOUNTINGTAX a 12-month period at the end of which your taxable income is calculated. In Britain the tax year ends on April 5By the end of the tax year, the company had invested £39.7 billion. → year 