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The Income Tax (Exemption of Social Security Benefits) Regulations 2024

S.I. 2024/287 · Made 4 March 2024

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

INCOME TAX

Made 4th March 2024

Laid before the House of Commons 5th March 2024

Coming into force 1st April 2024

The Treasury make these Regulations in exercise of the powers conferred by section 13(1) of the Finance Act 2020f1.

Annotations to the whole text

Footnotes

f1

2020 c. 14. The Parliamentary procedure for section 13 of the Finance Act 2020 is found at section 1014 of the Income Tax Act 2007 (c. 3), which applies to all powers under the “Income Tax Acts”, as defined by Schedule 1 to the Interpretation Act 1978 (c. 30).

Contents

  1. 1Citation, commencement and interpretation
  2. 2Amendment to the Income Tax (Earnings and Pensions) Act 2003
  3. 3Modification to the Income Tax (Earnings and Pensions) Act 2003
  4. Signature
  5. Explanatory note

1Citation, commencement and interpretation

(1)

These Regulations may be cited as the Income Tax (Exemption of Social Security Benefits) Regulations 2024 and come into force on 1st April 2024.

(2)

In these Regulations, “ITEPA” means the Income Tax (Earnings and Pensions) Act 2003f1.

2Amendment to the Income Tax (Earnings and Pensions) Act 2003

(1)

Chapter 5 of Part 10 of ITEPA (social security income) is amended as follows.

(2)

In section 677(1)f1, in Table B (UK social security benefits wholly exempt from tax: Table B), in Part 1 (benefits payable under primary legislation and Northern Ireland welfare supplementary payments etc), at the appropriate place insert—

“Payments made under the Parental Transitions Support schemef2LGSA 2003f3Section 20”.

3Modification to the Income Tax (Earnings and Pensions) Act 2003

(1)

Chapter 5 of Part 10 of ITEPA (social security income) is modified as follows.

(2)

Section 677(1) has effect as if, in Table B (UK social security benefits wholly exempt from tax: Table B), in Part 1 (benefits payable under primary legislation and Northern Ireland welfare supplementary payments etc), at the appropriate place there were inserted—

“Payments made under the Jobs Plus Pilotf1ETA 1973f2Section 2”.

Signature

Scott Mann

Mike Wood

Two of the Lords Commissioners of His Majesty's Treasury

4th March 2024

Explanatory note

(This note is not part of the Regulations)

These Regulations make an amendment and provide for a modification to Chapter 5 of Part 10 of the Income Tax (Earnings and Pensions) Act 2003 (c. 1) (“ITEPA”), so as to provide that no liability to income tax arises on social security benefits of a description specified in the Regulations.

Regulation 2 amends section 677 of ITEPA by inserting a new row into Part 1 of Table B, in order to wholly exempt payments made under the Parental Transitions Support scheme from income tax.

Regulation 3 modifies the effect of section 677 of ITEPA so that payments made pursuant to the Jobs Plus Pilot scheme will be wholly exempt from income tax.

A Tax Information and Impact Note has not been prepared for this instrument as it contains no substantive changes to tax policy.