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tradition, the days on which servants were hired and rents and rates were due.
The English quarter days (also observed in Wales and Ireland) are:
Lady Day was also the first day of the year in the British Empire until 1752. The British tax year still starts on 'Old' Lady Day (6 April = 25 March under the Julian calendar
The Scottish quarter days are:
The Terms & Quarter Day (Scotland) Act 1990
redefined these dates, at least in official use, as the 28th day of February, May, August and November respectively.
The significance of quarter days is now limited, although leasehold payments and rents for business premises in England are usually still due on the old English quarter days.
The Cross-quarter days derive from the Celtic calendar (see Cross-quarter day). They are Candlemas, May Day (May 1), Lammas, and All Hallows (November 1).