There are currently no known outstanding effects for the The Tax Credits (Definition and Calculation of Income) Regulations 2002, Section 6B.
6B.—(1) Where regulation 6A applies, a claimant’s trading income for the purposes of the first paragraph in Step 4 in regulation 3(1) is the claimant’s actual or estimated taxable profits attributable to the part tax year (“the relevant trading income”).
(2) The relevant trading income is to be calculated by reference to the basis period ending during the relevant tax year.
(3) The basis period is to be determined by reference to the rules in Chapter 15 of Part 2 of ITTOIA.
(4) The relevant trading income is calculated by—
(a)taking the figure for the actual or estimated taxable income earned in the basis period;
(b)dividing that figure by the number of days in the basis period to give the daily figure; and
(c)multiplying the daily figure by the number of days in the part tax year on which the trade, profession or vocation was carried on.]
Textual Amendments
F1Regs. 6A, 6B inserted (29.4.2013) by The Universal Credit (Transitional Provisions) Regulations 2013 (S.I. 2013/386), regs. 1(2), 17, Sch. para. 21
All content is available under the Open Government Licence v3.0 except where otherwise stated. This site additionally contains content derived from EUR-Lex, reused under the terms of the Commission Decision 2011/833/EU on the reuse of documents from the EU institutions. For more information see the EUR-Lex public statement on re-use.
