Regulation 16 Capital treated as income

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

reg 16 am (W) by National Assistance (Assessment of Resources) 2003 reg 4
reg.16(4) added by National Assistance (Assessment of Resources) 1993 reg.5(1)
reg 16 am (S) by National Assistance (Assessment of Resources) Amendment 2003 reg 3
reg 16 am (E) by National Assistance (Assessment of Resources) 2002 reg 2

(1)

Any capital payable to the resident by instalments which—

(a)

are outstanding on the first day from which a resident becomes liable to pay for his accommodation; or

(b)

where a local authority limits the payments required from a resident for his accommodation pursuant to section 22(5A) of the Act, are outstanding on the first day on which the local authority ceases to limit the payments required from the resident pursuant to section 22(5A) of the Act,

shall, if the aggregate of the instalments outstanding and the amount of the resident’s capital otherwise calculated in accordance with Part III of these Regulations exceeds the amount specified in regulation 41(1) of the Income Support Regulations^f1 (capital treated as income), be treated as income.

(2)

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

(3)

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

Annotations

Footnotes

f1: Amended by regulation 5(2) of S.I. 1990/671. The amount specified is currently £8,000.