The 53-week financial year. What does this mean?

There will be 53 Mondays in the 2024/25 financial year (1 April 2024 – 31 March 2025).

 

As your rent is charged weekly on a Monday, you will be charged 53 times this financial year rather than 52.

 

• If you pay weekly, you will simply have to pay your usual amount, but you will be doing it one extra time this year.
• If you pay by direct debit, you don’t need to do anything as we will have worked out the correct amount for you.
• If you pay monthly by ways other than direct debit, you will need to amend the amount you pay.

 

If you claim Universal Credit:

Universal Credit is currently calculated on a 52-week basis, so you will need to pay for the additional week yourself. To lessen the impact, we recommend you pay a little bit extra each week over the year.

For example, if you are charged £200 per week for your rent, you could divide this by 53 weeks and pay an extra £3.78 per week for 53 weeks.

 

For your convenience, you can request this by direct debit on your MySaxonWeald portal or call us on 01403 226000.