End of financial year: Get on top of key tax dates
Get your books in order for the end of the financial year with Xero. From reconciling accounts and preparing financial statements to complying with HMRC regulations, Xero simplifies the essentials to help you comply with the rules – making your tax season less taxing.
End of financial year explained
The UK’s financial year ends on 5 April. You need to make sure your accounts are up to date, you've filed your tax returns, and met HMRC’s deadlines. From Self Assessment deadlines to corporation tax submissions, Xero’s tools streamline your year-end process, saving you time and reducing admin.
What is the ‘end of the financial year’?
A financial year is a 12-month accounting period used for tax and financial reporting – its dates are typically different to the calendar year. At year-end, small business owners must review their accounts, calculate their taxable income, and file their returns with HMRC.
What are the dates of the financial year?
In the UK, the tax year runs from 6 April to 5 April for sole traders, individuals, and partnerships. Limited companies, however, can set their own financial year-end dates, so their due dates for filing annual accounts and meeting tax obligations are based on the dates they choose.
How do I complete a tax return?
To file a tax return, first organise and reconcile your financial records, making sure all your income and expenses are accurate. Sole traders, partnerships, and the self-employed need to submit a Self Assessment tax return through HMRC’s online portal. Limited companies need to file a Company Tax Return (including the CT600 form) with HMRC and submit annual accounts to Companies House.
What are the deadlines for small businesses?
For sole traders and partnerships, paper tax returns are due by 31 October, while online submissions close 31 January the year following – which is also the first tax payment deadline. Limited companies must file annual accounts within 9 months of their accounting year end and tax returns 12 months after the year end. Additionally, corporation tax is due 9 months and 1 day after year end – yep, corporation tax is due before you submit your tax return!
How Xero helps small businesses with EOFY
Xero makes your reporting at the end of the financial year less stressful and more straightforward. Quickly reconcile your transactions, generate accurate financial statements, and file returns directly with HMRC – a much easier way to comply with UK tax regulations.
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Xero tools and resources for the financial year end
Xero has a calendar, guides, checklists, and other resources to help small businesses, accountants, and bookkeepers like you prepare for the end of the financial year.
Check out Xero’s EOFY tools and resources below
Ace your financial year end with Xero
Xero payroll software automates your tax reporting to help your small business comply with UK regulations, and streamlines end-of-year tasks like P60s and HMRC submissions. Plus, Xero supports Making Tax Digital (MTD) by ensuring accurate digital record-keeping and integrating seamlessly with HMRC.
Simple payroll software for your small business.
EOFY resources for your business
When to submit your tax return
Paper returns are due by 31 October. Online returns are due by 31 January, which is also the deadline for any tax owed.
Here’s more detail from the government on deadlinesKey financial year dates
Get a clear overview of the key dates and deadlines for the financial year with Xero’s detailed guide.
Here are the financial year dates to rememberSmart-yet-simple payroll
Keep payroll simple this financial year by following these steps to meet year-end payroll requirements.
Here are the end-of-tax-year payroll requirementsEssential apps to supercharge your EOFY
Simplify financial year-end with Xero apps – manage your business in one place and start the new financial year strong.
Work smarter with apps from the Xero App StoreFiling your Self Assessment tax returns online
Do it all online – declare how much income you earned and what business expenses you can claim as a deduction.
File your return at Gov.ukKeeping financial records
Under UK tax law, you must keep financial records for at least 5 years after the tax year's deadline.
Here are the government’s rules for storing business records
Xero gives the team at Popcorn Shed more freedom
Laura uses Xero to check on her finances any time
FAQs on the UK’s end of financial year
Once you’ve registered with HMRC and gathered your records, it’s pretty simple. First, register with HMRC to receive a Unique Taxpayer Reference (UTR) to access the system. Then collect your income records, expenses, and National Insurance number. Log in to your HMRC account, enter your income and expenses, check for errors, and submit your return. Make sure you pay taxes owed by the deadline for filing to avoid penalties.
Here’s how to fill in a Self Assessment tax return onlineOnce you’ve registered with HMRC and gathered your records, it’s pretty simple. First, register with HMRC to receive a Unique Taxpayer Reference (UTR) to access the system. Then collect your income records, expenses, and National Insurance number. Log in to your HMRC account, enter your income and expenses, check for errors, and submit your return. Make sure you pay taxes owed by the deadline for filing to avoid penalties.
Here’s how to fill in a Self Assessment tax return onlineMaking Tax Digital (MTD) for income tax is being phased in from 2026. It’ll apply to sole traders and self-employed individuals earning over £50,000 at first, with the threshold lowering to £30,000 by 6 April 2027. Under MTD, businesses must keep digital records, send quarterly updates, and submit a final declaration during the financial year in the UK. You'll need MTD-compatible accounting software, like Xero, to handle the process.
Here’s everything you need to know about MTDMaking Tax Digital (MTD) for income tax is being phased in from 2026. It’ll apply to sole traders and self-employed individuals earning over £50,000 at first, with the threshold lowering to £30,000 by 6 April 2027. Under MTD, businesses must keep digital records, send quarterly updates, and submit a final declaration during the financial year in the UK. You'll need MTD-compatible accounting software, like Xero, to handle the process.
Here’s everything you need to know about MTDYes, you can. Xero’s workplace pensions automation helps you streamline auto-enrolment and stay compliant with UK pension regulations from one convenient place, ensuring accurate pension contributions and financial reporting.
Learn more about Xero's automated workplace pensionsYes, you can. Xero’s workplace pensions automation helps you streamline auto-enrolment and stay compliant with UK pension regulations from one convenient place, ensuring accurate pension contributions and financial reporting.
Learn more about Xero's automated workplace pensionsSet up a bank feed to import transactions from your bank or financial institution directly into Xero, saving you the hassle of doing it manually. This helps streamline your financial reporting. If your bank doesn’t support Xero feeds, you can export and upload transactions in various file formats.
Connect your bank to XeroSet up a bank feed to import transactions from your bank or financial institution directly into Xero, saving you the hassle of doing it manually. This helps streamline your financial reporting. If your bank doesn’t support Xero feeds, you can export and upload transactions in various file formats.
Connect your bank to XeroStart by adding your pension scheme details into Xero Payroll, including your provider information and pension contributions rates. Xero then assesses employee eligibility and calculates contributions automatically. This ensures your numbers are accurate at the end of the tax year. You can also submit pension data directly to supported providers to comply with regulations.
Here’s how to set up a workplace pensionStart by adding your pension scheme details into Xero Payroll, including your provider information and pension contributions rates. Xero then assesses employee eligibility and calculates contributions automatically. This ensures your numbers are accurate at the end of the tax year. You can also submit pension data directly to supported providers to comply with regulations.
Here’s how to set up a workplace pension
Set up for MTD with Xero (H2)
Get started in a few steps. Xero makes Making Tax Digital for Income Tax compliance simple.
Prepare your tax returns
Get step-by-step guidance to prepare and submit income tax returns.
File sole trader Self Assessment tax returns
Learn how to file your Self Assessment tax return correctly.
The complete guide to self-employed taxes
Understand self-employed income tax, National Insurance, and MTD compliance.
Start using Xero for free
Access Xero features for 30 days, then decide which plan best suits your business.
Run your business with Xero
Xero gives you everything you need to handle the end of the financial year with ease and confidence.
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