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Tax Year Definition

The tax year for individuals is from 1 March to the 28th or 29th of February of the following year.

A tax year, on the other hand, differs from a typical calendar year, which runs from January to December.

The tax year is designated by the final year of operation, for example, the 2022 tax year begins on March 2021 and concludes February 2022.

The tax year of a company however is not limited to the above and can end on any given month.

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