financial year

noun

1. any annual period at the end of which a firm's accounts are made up

2. the annual period ending April 5, over which Budget estimates are made by the British Government and which functions as the income-tax year

Example Sentences

The council is taking urgent action to avoid bankruptcy by next April, aiming to make savings to prevent going over budget by £35.2m this financial year.

From BBC

Borrowing over the first five months of the financial year has now reached £83.8bn, which is £16.2bn higher than the same period last year.

From BBC

Already, funding the state pension accounted for almost £140bn in the last financial year, making it the second biggest claim on the public purse after health spending.

From BBC

He is predicting that strong sales in the second half of the financial year, particularly in the run up to Christmas, will allow the company to post a profit in its full-year results.

From BBC

Significantly, most signings made this summer were completed after the end of the Premier League's financial year on 30 June, helping to manage future PSR calculations.

From BBC

Related Words

• calendar year