any of four days in the year when certain payments become due. In England, Wales, and Northern Ireland these are Lady Day, Midsummer's Day, Michaelmas, and Christmas. In Scotland they are Candlemas, Whit Sunday, Lammas, and Martinmas
quarter day in American English
any of the four days regarded as beginning a new quarter of the year, when quarterly payments on rents, etc. are due
Examples of 'quarter day' in a sentence
quarter day
Retail rents are paid three months in advance on the quarter day.
Times, Sunday Times (2012)
Do not expect the first rent quarter day of next year, in March, to pass without incident.
Times, Sunday Times (2011)
The next quarter day falls on September 29 and is likely to be accompanied by several smaller retailers going to the wall.
Times, Sunday Times (2008)
Today is Michaelmas Day, one of the old quarter days of the year when rents were due.