Today, March 25, is Lady Day in some countries, another name for the Christian Feast of the Annunciation, and a festival in honour of the Virgin Mary. March 25 was the first day of the calendar year in England until 1752 and the adoption of the Gregorian Calendar. Several days were lost during the change-over of calendars and this explains why April 6 is still the start of the financial year.
Nowadays there is only one Lady Day, but there used to be four – August 15, September 8, December 8 as well as March 25.
Lady Day is the first of the four traditional quarter days, when tenancies begin and rents become payable. The other three quarter days in England and Ireland are traditionally June 24 (Midsummer Day), September 29 (Michaelmas) and December 25 (Christmas). In Scotland the term quarter day is sometimes given to Candlemas (February 2), Whit Sunday (May 15), Lammas (August 1) and Martinmas (November 11).