115.—(1) Until the date determined in accordance with paragraph (6), these regulations have effect subject to the following modifications.
(2) Omit regulation 54 (surplus earnings), as amended by regulation 9(4) of the Social Security (Miscellaneous Amendments) Regulations (Northern Ireland) 2017, and regulation 58 (unused losses).
(3) In regulation 57 (self-employed earnings- treatment of losses)—
(a)for paragraph (2) substitute—
“(2) A person’s self-employed earnings in respect of an assessment period are to be calculated by taking the amount of the gross profits (or, in the case of a partnership, the person’s share of those profits) of the trade, profession or vocation and deducting from that amount—
(a)any payment made to HMRC in the assessment period in respect of the trade, profession or vocation by way of—
(i)Class 2 contributions payable under section 11(2), (6) or (8) of the Contributions and Benefits Act or any Class 4 contributions payable under section 15 of that Act, or
(ii)income tax; and
(b)any relievable pension contributions made by the person in the assessment period (unless a deduction has been made in respect of those contributions in calculating a person’s employed earnings).
(3) The gross profits of the trade, profession or vocation in respect of an assessment period are the actual receipts in that period less any deductions for expenses allowed under regulation 58 or 59.”;
(b)in paragraph (3), for “paragraph (2)” substitute “paragraph (3)”.
(4) In regulation 59(3) (permitted expenses), after sub-paragraph (a) insert—
“(aa)any loss incurred in respect of a previous assessment period;”.
(5) In regulation 63 (minimum income floor), omit paragraph (5).
(6) The date is 2nd April 2018 or, in respect of an existing award of Universal Credit where 2nd April 2018 is not the first day of an assessment period, the first day of the next assessment period.]
Textual Amendments
F1Reg. 115 inserted (coming into force in accordance with reg. 1(3) of the amending Rule) by The Social Security (Miscellaneous Amendments) Regulations (Northern Ireland) 2017 (S.R. 2017/116), regs. 1(3), 9(15)