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

Dundee University has told staff that job losses are "inevitable" as it faces a potential deficit of £30m in the next financial year.

From BBC

"This will be a very difficult period, certainly for this financial year and next."

From BBC

Altogether, discretionary spending accounted for around 25% of the total in the 2023 financial year according to the Congressional Budget Office, with more than half of that going to defence.

From BBC

Despite the fact that it is more than halfway through the 2024-25 financial year, no pay deal for teachers in Northern Ireland has yet been agreed.

From BBC

In September, Hospice UK said 2023-24 “was by a distance the worst financial year we have ever seen for the hospice sector”.

From BBC

Related Words

• calendar year