Regulation 32 Calculation of capitalI1
England, Wales and Scotland
For the purposes of Part II of the Act as it applies to F1disabled person’s tax credit, the capital of a claimant to be taken into account shall, subject to paragraph (2), be the whole of his capital calculated in accordance with this Part and any income treated as capital F2under regulation 34 (income treated as capital).
There shall be disregarded from the calculation of a claimant’s capital under paragraph (1) any capital, where applicable, specified in Schedule 4.
Annotations
Textual amendments
- F1
Words in reg. 32(1) substituted (5.10.1999) by The Tax Credits Schemes (Miscellaneous Amendments) Regulations 1999 (S.I. 1999/2487), regs. 1(1), 26(2), Sch. 2 para. 2(xi)
- F2
Words in reg. 32(1) substituted (5.10.1992) by The Income-related Benefits Schemes (Miscellaneous Amendments) (No. 3) Regulations 1992 (S.I. 1992/2155), reg. 1(1), Sch. para. 9