financial year
noun [ C ]
mainly UK ukus(abbreviation FY); (also accounting year) ACCOUNTING
a period of twelve months for which a company prepares its accounts. In the UK, this period often ends at the end of March:
the current/previous/next, etc. financial year Profits for the current financial year are expected to rise more than 20%.
the beginning/end/second half, etc. of the financial year In the second half of the financial year, we were successful in winning several new contracts.
He was paid over £700,000 in the financial year to March 2010.
Compare
fiscal year
tax year