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The Office of Tax Simplification (OTS) has released a report entitled 'The UK tax year-end date: exploring the potential for change'. This report explores the benefits, costs and wider implications of a change to the UK's year-end tax date. 

The report builds on the OTS's earlier ‘Potential for moving the end of the tax year – Scoping document’ released in July and summarises the high-level implications of moving the tax year-end to 31 March and 31 December.

The OTS found that:

The OTS recommendations include:

Useful guides on this topic

Should we change the end of the Tax Year?
The Office of Tax Simplification (OTS) has issued a policy paper ‘Potential for moving the end of the tax year - Scoping document’. It offers two options to replace 5 April as the end of the tax year, 31 March or 31 December. 

Making Tax Digital
An index of our MTD content.

Making Tax Digital: Survival guide (for the self-employed & landlords)
This is a freeview 'at a glance' guide for the many self-employed taxpayers, company owners and property landlords who are unaware of HM Revenue and Custom's radical plans to transform the tax online filing system. 

Making Tax Digital for VAT
This is a freeview 'At a glance' guide to Making Tax Digital for VAT. 

External Links

The UK tax year-end date: exploring the potential for change


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