Taxing period from a scary life at sea (6,4)

I believe the answer is:

fiscal year

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'taxing period' is the definition.
'fiscal year' can be an answer for 'period' (fiscal year is a kind of period). I'm not sure about the 'taxing' bit.

'a scary life at sea' is the wordplay.
'at sea' indicates anagramming the letters.
'a'+'scary'+'life'='ascarylife'
'ascarylife' with letters rearranged gives 'FISCAL YEAR'.

'from' is the link.

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I've seen this clue in The Sunday Times and The Times.

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