The HMRC tax year

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The HMRC tax year

The HMRC tax year runs from 6 April to 5 April and it is the amount of business profit you make during this time period that you will most likely need to pay tax on.

We talk about record keeping on Day 5, but you need to ensure you keep details of your business income and costs in a way that you can easily extract the information you need to work out your business profits for the tax year.