Regulation 41 Capital treated as incomeI1

Capital which is payable by instalments which are outstanding on–

shall be treated as income if the aggregate of the instalments outstanding and the amount of the claimant’s capital otherwise calculated in accordance with Chapter VI of this Part exceedsF2... £16,000.

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

F3In the case of a person to whom section 23 of the Act (trade disputes) applies F4or in respect of whom section 20(3) of the Act (conditions of entitlement to income support) has effect as modified by section 23A(b) of the Act (effect of return to work), any payment under F5F6section 17, 23B, 23C or 24A of the Children Act 1989 or, as the case may be, F7section 12 of the Social Work (Scotland) Act 1968 or sections 29 or 30 of the Children (Scotland) Act 1995 (local authorities' duty to promote welfare of children and powers to grant financial assistance to persons in, or formerly in, their care) shall be treated as income.

In the case of a person to whom section 20(3) of the Act (conditions of entitlement to income support) has effect as modified by section 23A(b) of that Act (effect of return to work), any amount by way of repayment of income tax deducted from his emoluments in pursuance of section 203 of the Income and Corporation Taxes Act 1988, shall be treated as income.

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

Any Career Development Loan paid pursuant to section 2 of the Employment and Training Act 1973 shall be treated as income.

Where an agreement or court order provides that payments shall be made to the claimant in consequence of any personal injury to the claimant and that such payments are to be made, wholly or partly, by way of periodical payments, any such periodical payments received by the claimant (but not a payment which is treated as capital by virtue of this Part), shall be treated as income.