The tax year runs from 1 January to 31 December, however your company's financial year may not coincide with these dates, for example, 1 August to 31 July.
NOTE: If your Financial Year end matches the Tax Year (in the payroll calendar), you're automatically prompted to Clear down financial balances when setting your first period of 2025.
This involves clearing any financial balances that you don't want in your new financial year and allowing your reports (Cost Analysis, Payments, Deductions) to show the financial year information.
NOTE: You don't see this panel if your financial year doesn't match the tax year. You can check your payroll calendar for when your financial year starts.