# The Family Credit (General) Amendment No. 4 Regulations 1988, Regulation 3: Amendment of regulation 15 of the General Regulations


In regulation 15 of the General Regulations (normal weekly earnings of self-employed earners)—
(a) in paragraph (1)—
(i) in sub-paragraph (a) at the beginning there shall be inserted the words “except where sub-paragraph (b) applies,”; and for the words “the claim is received” there shall be substituted the words “the date of claim falls”;
(ii) for sub-paragraph (b) there shall be substituted the following sub-paragraph—
“(b) where the claimant provides in respect of the employment a profit and loss account and, where appropriate, a trading account or a balance sheet or both, and the profit and loss account is in respect of a period of at least 6 months but not exceeding 15 months and that period terminates within the 12 months preceding the date of claim, over that period; or”;
(iii) in sub-paragraph (c) for the words “the claim is received” there shall be substituted the words “the date of claim falls”;
(b) after paragraph (1) there shall be inserted the following paragraph—
“(1A) in paragraph (1)(b)—
(a) “balance sheet” means a statement of the financial position of the employment disclosing its assets, liabilities and capital at the end of the period in question;
(b) “profit and loss account” means a financial statement showing the net profit or loss of the employment for the period in question; and
(c) “trading account” means a financial statement showing the revenue from sales, the cost of those sales and the gross profit arising during the period in question.”.

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Source: https://www.legislation.gov.uk/uksi/1988/1970/regulation/3 (the official version)
Page: https://openlegislation.uk/family-credit-general-amendment-no-4-regulations-1988/regulation-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.