Regulation 25 Capital treated as incomeI1

England, Wales and Scotland

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

reg. 25(2)(d)(ii) words added by Social Security 2005 reg. 5(3)(5)
reg. 25(1) words substituted by Housing Benefit and Council Tax Benefit 2005 reg. 3(10)
reg. 25(5) added by Social Security Amendment (Personal Injury Payments) 2002 reg. 2(a)
reg. 25(4) added by Income-related Benefits and Jobseeker’s Allowance 1997 reg. 3(3)(a)

(1)

Any capital payable by instalments which are outstanding at the date on which the claim is made or treated as made, or at the date of any subsequent review, shall, if the aggregate of the instalments outstanding and the amount of the claimant’s capital otherwise calculated in accordance with Chapter VI exceeds £16,000, be treated as income.

(2)

Any payment received under an annuity shall be treated as income.

(3)

Any earnings to the extent that they are not a payment of income shall be treated as income.

Annotations

Commencement

I1: Reg. 25 in force at 1.4.1993, see reg. 1(b)