Standard vs. Calendar Quarters
HMRC allows you to choose between "standard" tax quarters or "calendar" quarters to match how you naturally run your business.
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Direct Answer
By default, HMRC uses standard quarters (ending the 5th of the month). However, you can "elect" to use calendar quarters (ending the last day of the month) to make your bookkeeping much simpler.
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The Logic
- Standard Quarters: Run from the 6th to the 5th (e.g., 6 April to 5 July).
- Calendar Quarters: Run from the 1st to the 30th/31st (e.g., 1 April to 30 June).
Note: You must make this choice in your software before you submit your first update of the tax year. Once chosen, it rolls over every year.
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How Taxd Helps
- One-Click Election: Switch to calendar quarters directly in the Taxd interface.
- Alignment: We ensure your bank feeds align perfectly with your chosen period, so no manual "day-counting" is needed. ``