Capital treated as income
104.—(1) Any capital payable by instalments which are outstanding on the first day in respect of which an income-based jobseeker’s allowance is payable, or, in the case of a [F1suppression], the date of that [F1suppression], shall, if the aggregate of the instalments outstanding and the amount of the claimant’s capital otherwise calculated in accordance with Chapter VI of this Part exceeds £8,000 [F2or, in a case where regulation 107(aa) applies, £12,000], [F3or, in a case where regulation 107(b) applies, £16,000] be treated as income.
(2) Any payment received under an annuity shall be treated as income.
(3) In the case of a person who is, or would be, prevented from being entitled to a jobseeker’s allowance by section 14 (trade disputes), any payment under section 17 or 24 of the Children Act 1989 F4 or, as the case may be, section 12, 24 or 26 of the Social Work (Scotland) Act 1968 F5 (local authorities’ duty to promote welfare of children and powers to grant financial assistance to persons in, or formerly in, their care) shall be treated as income.
(4) Any earnings to the extent that they are not a payment of income shall be treated as income.
[F6(5) Any Career Development Loan paid pursuant to section 2 of the Employment and Training Act 1973 shall be treated as income.]
Textual Amendments
F1Words in reg. 104(1) substituted (18.10.1999) by The Social Security Act 1998 (Commencement No. 11, and Savings and Consequential and Transitional Provisions) Order 1999 (S.I. 1999/2860), art. 3(1), Sch. 12 para. 5
F2Words in reg. 104(1) inserted (for specified purposes and with effect in accordance with reg. 1(3) of the amending S.I.) by The Social Security Amendment (Capital Limitsand Earnings Disregards) Regulations 2000 (S.I. 2000/2545), regs. 1(1)(c), 2(2)(a)
F3Words in reg. 104(1) inserted (for specified purposes and with effect in accordance with reg. 1(2) of the amending S.I.) by The Income-related Benefits and Jobseeker’s Allowance (Miscellaneous Amendments) Regulations 1997 (S.I. 1997/65), reg. 1(1)(2), 3(2)
F6Reg. 104(5) added (for specified purposes and with effect in accordance with reg. 1(2) of the amending S.I.) by The Income-related Benefits and Jobseeker’s Allowance (Miscellaneous Amendments) Regulations 1997 (S.I. 1997/65), reg. 1(1)(2), 3(3)(f)