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Posted on April 2, 2024

Everything you need to know about the 53-week financial year

The beginning of the new financial starts on the first Monday of April. This year, the financial year will run from 1st April 2024 to 6th April 2025.

As your rent is charged every Monday and there are 53 Mondays in this financial year, there is an extra week’s rent charge.

However, if your tenancy agreement includes non-chargeable weeks, your normal number of non-chargeable weeks will be deducted from the 53 weeks.

If you haven’t already, please ensure you include the extra week when arranging this year’s rent payments.

What to do next

Pay by direct debit? You don’t need to do anything. This will have been calculated for you already.

If you pay by another method, we can help you work out what you need to pay. Please contact us on 01282 686300 if you need any help.

If you receive Universal Credit, you will only get a maximum of 52 weeks’ payments. This is paid in 12 monthly installments from the Department of Work and Pensions. Please be aware, you’ll need to pay for any shortfall for the 53rd charge.

If you think you’ll struggle with affording this extra week of rent, please get in touch as soon as possible so we can help you. As well as contacting us, you can find loads of handy information on our website.

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