53 week financial year – what it means for you From April 2024

There will be 53 Mondays in the 2024/25 financial year, which runs from 1 April 2024 until 1 April 2025, with the last Monday on 31 March 2025.

This happens every five or six years, because there are 365 days in a year or 366 in a leap year, which breaks down to 52 weeks in a year plus 1 day, or in a leap year 52 weeks plus 2 days. These extra days accumulate to add an extra week to the year.

52 weeks x 7 days = 364 days (one day fewer than a full year or two days fewer than a leap year).

  • What does it mean for me?

    If you pay your rent weekly, there will be an extra week of rent to pay.

  • Who does it affect?

    This will impact any of our customers who are on a weekly tenancy agreement or licence.

    • If you receive Universal Credit, the Department for Work and Pensions will NOT cover the extra week of rent – you will need to pay it.
    • Customers on a weekly tenancy or licence will need to pay for 53 weeks (your monthly rent calculation is weekly current rent X 53 weeks ÷ 12 months equals your monthly current rent).

    However, if you are on Housing Benefits (HB, legacy benefits) you will not be impacted by this, as HB will cover this as they pay every week that it is charged.

  • What do I need to do if I am on Universal Credit?

    The DWP only pay up to 52 weeks of rent per year and works out the weekly rent for those on Universal Credit by taking the total yearly amount and dividing it by 52 weeks. For example, £10,400 per year / 52 weeks = £200pw rent.

    Unfortunately, they have confirmed that they won’t pay for the 53rd week. This means you will need to pay for the additional week yourself.

    We recommend you pay a little bit each week over the year.

    For example, if you pay £200 a week for your rent, you could divide this by 53 weeks and pay an additional £3.78 a week for 53 weeks.

    If you’re not sure what to do, please call our Contact Centre on 01628 543101 or email contact@housingsolutions.co.uk so we can help you with the options.

  • I pay my rent every 4 weeks what do I need to do?
    • If you pay your rent every four weeks, you will need to multiply your weekly rent by 53 then divide it over 13 payments. E.g £200 weekly rent x 53 = £10,600 / 13 = £815.38 rent payment .every four weeks

    If you pay by standing order every four weeks

    • You’ll need to change the amount you pay through your bank at the beginning of the new financial year if you want to split the costs of 13 payments.

    If you pay by Direct Debit

    • We will adjust your payments and let you know how much they will be.

    If you pay through the Housing Solutions Portal every four weeks

    • You’ll need to change the amount you pay at the beginning of the new financial year by splitting the costs over 13 payments.
  • What can I do if I am not happy about Universal Credit not covering the 53rd week?

    Unfortunately, there is nothing we can do as you will still be responsible and liable as the tenant to pay the extra week of rent that Universal Credit won’t cover.

    If you don’t pay, you’ll end up in arrears. However, we would encourage you to write to your local MP. We hope that if enough people highlight the shortfall the Department for Work and Pensions will cover the extra week,  the next time we have a 53 week financial year.

    Please remember if you have an agreement with us or a court order in place you will also need to add that onto your rent amount.

  • I don’t understand what I need to do

    If you’re not sure what to do, please get in touch with us on 01628 543101 or email contact@housingsolutions.co.uk