Amendment of regulation 20ZA of the Family Credit Regulations
16. In regulation 20ZA of the Family Credit Regulations (calculation of net earnings of directors)(1)—
(a)in paragraph (3)(b) after the word “claimant” there shall be inserted the words “in respect of a pay period”;
(b)in paragraph (4)(a) for the words “the lower rate and, if appropriate, the basic rate of tax” there shall be substituted the words “the earnings to which the lower rate of tax is to be applied”;
(c)in paragraph (4)(c) the words “, if the earnings so estimated were actual earnings.” shall be added at the end.
(1)
Regulation 20ZA was inserted in the Regulations by S.I. 1994/527, regulation 17.