The Social Security (Deemed Income from Capital) Regulations 2009

• Citation: S.I. 2009/1676
• Sections: 9

Section 1 Citation and commencement

These Regulations may be cited as the Social Security (Deemed Income from Capital) Regulations 2009 and shall come into force on 2nd November 2009.

Section 2 Amendment of the State Pension Credit Regulations 2002

The State Pension Credit Regulations 2002 are amended as follows.

Section 3 Amendment of the State Pension Credit Regulations 2002

(1) Regulation 15 (income for the purposes of the Act) is amended in accordance with this regulation.

(2) For paragraph (6) substitute—

(6) For the purposes of section 15(2) (deemed income from capital) and subject to regulation 17(8) (capital to be disregarded), a claimant’s capital shall be deemed to yield a weekly income of—

(a) £1 for each £500 in excess of £10,000; and

(b) £1 for any excess which is not a complete £500.

(3) Omit paragraphs (7) and (8).

Section 4 Amendment of the Housing Benefit (Persons who have attained the qualifying age for state pension credit) Regulations 2006

The Housing Benefit (Persons who have attained the qualifying age for state pension credit) Regulations 2006 are amended as follows.

Section 5 Amendment of the Housing Benefit (Persons who have attained the qualifying age for state pension credit) Regulations 2006

(1) Regulation 29 (meaning of “income”) is amended in accordance with this regulation.

(2) For paragraph (2) substitute—

(2) For the purposes of these Regulations and subject to regulation 44(2) (capital to be disregarded), a claimant’s capital shall be treated as if it were a weekly income of—

(a) £1 for each £500 in excess of £10,000; and

(b) £1 for any excess which is not a complete £500.

(3) Omit paragraphs (6) and (7).

Section 6 Amendment of the Housing Benefit (Persons who have attained the qualifying age for state pension credit) Regulations 2006

(1) Schedule 5 (amounts to be disregarded in the calculation of income other than earnings) is amended in accordance with this regulation.

(2) For paragraph 24 substitute—

(24) Where the total value of any capital specified in Part 2 (capital disregarded only for the purposes of determining deemed income) of Schedule 6 does not exceed £10,000, any income actually derived from such capital.

Section 7 Amendment of the Council Tax Benefit (Persons who have attained the qualifying age for state pension credit) Regulations 2006

The Council Tax Benefit (Persons who have attained the qualifying age for state pension credit) Regulations 2006 are amended as follows.

Section 8 Amendment of the Council Tax Benefit (Persons who have attained the qualifying age for state pension credit) Regulations 2006

(1) Regulation 19 (meaning of “income”) is amended in accordance with this regulation.

(2) For paragraph (2) substitute—

(2) For the purposes of these Regulations and subject to regulation 34(2) (capital to be disregarded), a claimant’s capital shall be treated as if it were a weekly income of—

(a) £1 for each £500 in excess of £10,000; and

(b) £1 for any excess which is not a complete £500.

(3) Omit paragraphs (6) and (7).

Section 9 Amendment of the Council Tax Benefit (Persons who have attained the qualifying age for state pension credit) Regulations 2006

(1) Schedule 3 (amounts to be disregarded in the calculation of income other than earnings) is amended in accordance with this regulation.

(2) For paragraph 23 substitute—

(23) Where the total value of any capital specified in Part 2 (capital disregarded only for the purposes of determining deemed income) of Schedule 4 does not exceed £10,000, any income actually derived from such capital.