Happy New Year – a new tax year starts

posted on April 5, 2013in the Blog Category

Happy New Year – a new tax year starts

New Year used to be on 25 March.  In 1752 we adopted the Gregorian Calendar as the old calendar (the Julian) was 11 days adrift.  The 4th September 1752 was followed by 15 September.  At the same time new year was moved to 1 January. Riots followed as people wanted their 11 days back .  The treasury did not want to adopt the new tax year of 1 January and did not feel they could start the new tax year on 25 March as usual as the already irate tax payers would effectively be paying a full year’s tax for only 354 days.  The solution was to extend the start of the next tax year by 11 days (extended by one further day for the skipped leap year in 1800).  Hence the tax year starts on 6th April. Elaine Jess, Partner

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