Jargon Buster
FAQ logo Welcome to the Jargon buster, where we explain hundreds of common legal terms in plain english. The entries are sorted alphabetically, so choose the first letter of the phrase you're looking for and see if we can help.
 
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Y

Year
Generally, any period of twelve months commencing on the relevant start date but -

  1. Accounting (or financial) year - the period covered by the accounts of a company or other body.
  2. Calendar year - twelve months ending on 31 December.
  3. Fiscal year - the tax year ending on 5 April. However, rates and Council tax are based on a year ending 31 March.
 
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