Basics
Tax year dates around the world
6 min read · Last updated 1 November 2026 · Tax Globy editorial team
A tax year is not a calendar year everywhere. Pakistan starts in July, India in April, the United Kingdom in early April, and the United States and China in January. The label alone tells you little until you know the months it covers.
Five countries, four different years
A tax year is not the same as a calendar year everywhere. Pakistan, India and the United Kingdom all start their tax year partway through the calendar, and each labels the year by the two calendar years it spans.
The table shows the dates for 2026-27 in the form each country uses.
| Country | Tax year | Dates |
|---|---|---|
| Pakistan | 2026-27 | 1 July 2026 to 30 June 2027 |
| India | FY 2026-27 | 1 April 2026 to 31 March 2027 |
| United Kingdom | 2026-27 | 6 April 2026 to 5 April 2027 |
| United States | 2026 | 1 January 2026 to 31 December 2026 |
| China | 2026 | 1 January 2026 to 31 December 2026 |
Why the UK starts on 6 April
The 6 April start is a legacy of calendar reform in the eighteenth century rather than a deliberate design. When the calendar changed, the dates of the tax year were adjusted to keep the old payment dates, and the odd start survived.
The result is a year that runs from early April to early April and is named after both calendar years. It also means the UK year overlaps two calendar years in a way that the US and Chinese years do not.
Run your own numbers
The calculator applies the rates described in this guide and shows the band-by-band breakdown.
Open the all five calculators calculatorPakistan runs July to June
The Pakistan tax year runs from 1 July to 30 June. Tax year 2026-27 therefore starts on 1 July 2026 and ends on 30 June 2027.
The July start follows the budget cycle, so the rates for a year are set shortly before that year begins. A salary paid in June 2026 belongs to 2025-26, while the same salary paid in July 2026 belongs to 2026-27.
India runs April to March
The Indian financial year runs from 1 April to 31 March. FY 2026-27 starts on 1 April 2026 and ends on 31 March 2027.
Because the year starts in April, a bonus paid in March falls in the old year and one paid in April falls in the new one. That one-month difference can change the rates that apply to the same money.
Why 2026 means different things
A figure labelled 2026 in the United States or China covers January to December 2026. A figure labelled 2026-27 in the United Kingdom covers April 2026 to April 2027, and in Pakistan July 2026 to June 2027.
Comparing the two directly compares different months, and often different rate sets. The label is a shorthand for a set of rules, not for a calendar span.
How the year selector handles it
The calculator keeps a separate list of years for each country, labelled in that country convention: 2026-27 for Pakistan and the United Kingdom, FY 2026-27 for India, and 2026 for the United States and China.
Choosing a year changes the bands, rates and deductions for that country only, and the choice is written into the address so a result can be shared. Older years are kept so a previous payslip can be reproduced with the rules that applied.
What to check before comparing
Match the months first. Two figures are only comparable when they cover the same period, and a 2026 calendar-year figure is not the same period as a 2026-27 tax year.
Then match the assumptions: gross or net, before or after social contributions, and whether credits or deductions have been applied. A correct rate on the wrong base still produces a misleading answer.
- The months covered by each figure
- Whether the amount is gross or net
- Whether social contributions are included
- Which year the rates belong to
Estimates only; compare like with like before drawing a conclusion.
Common questions
Why does the UK tax year start on 6 April?
It is a historical legacy of calendar reform rather than a policy choice. The dates were adjusted to preserve old payment dates and the arrangement survived.
Is 2026 the same as 2026-27?
No. A 2026 figure covers January to December in the United States and China, while 2026-27 covers a year that starts in April or July and ends in the following calendar year.
Can I compare a 2026 salary with a 2026-27 salary?
Only after matching the months and the assumptions. The labels describe different periods, so a direct comparison can be misleading.
Does the year selector change the currency?
No. It changes the bands, rates and deductions for that country and year. The currency stays the same.
Written and maintained by the Tax Globy editorial team
Tax Globy is an independent calculator project. Every rate, threshold and deduction is checked against the published official source listed on the page, and each page shows when it was last reviewed.
Last reviewed 1 November 2026 · Estimates only, not tax advice.
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