CAF-2 · Chapter 4 · Question 2 of 15
If a company is allowed to adopt a special tax year spanning from 1st April 2025 to 31st March 2026, how will this tax year be denoted?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) B) Tax Year 2026
Explanation
A special tax year is denoted by the calendar year relevant to the normal tax year in which the closing date of the special tax year falls. Since March 31, 2026, falls within the normal tax year of July 1, 2025, to June 30, 2026, it is denoted as Tax Year 2026.
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