The UK tax year runs from 6 April to 5 April, a relic of 1752 when Britain switched calendars and “lost” 11 days. That historical quirk made sense then - but today, it’s a barrier to simplicity and global alignment. Let's modernise our system for ease and alignment with over 120 other countries.
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• Global Standard: Over 120 countries start their tax year on 1 January, including the USA, Canada, and most of Europe.
• Simplification: Aligning with the calendar year would make payroll, budgeting, and reporting easier for businesses and individuals.
• International Competitiveness: UK companies trading globally face unnecessary complexity because our tax year doesn’t match international norms.
• Easier financial planning.
• Reduced accounting costs.
• Fewer errors and compliance headaches.