Regulation 4 Amendment of the Income Thresholds Regulations
(1)
The Income Thresholds Regulations are amended as follows.
(2)
In regulation 3(2) (first income threshold for those entitled to working tax credit) for “£5,220” substitute “£6,420”.
(3)
In regulation 3(3) (first income threshold for those entitled to child tax credit) for “£14,495” substitute “£15,575”.
(4)
In regulation 7(3) (determination of working tax credit) —
(a)
in step 4 for “£5,220” substitute “£6,420”.
(b)
in step 5 for “37%” substitute “39%”.
(5)
In regulation 8(3) (determination of child tax credit)—
(a)
in step 4 for “£14,495” substitute “£15,575”.
(b)
in step 5 for “37%” substitute “39%”.