Citation, commencement, effect and interpretation

1.—(1) These Regulations may be cited as the Tax Credits Up-rating Regulations 2004 and shall come into force on 6th April 2004.

(2) In these Regulations—

“the Child Tax Credit Regulations” means the Child Tax Credit Regulations 2002(1);

“the Entitlement Regulations” means the Working Tax Credit (Entitlement and Maximum Rate) Regulations 2002(2);

“the Income Thresholds Regulations” means the Tax Credits (Income Thresholds and Determination of Rates) Regulations 2002(3).

(3) These Regulations have effect in relation to awards of tax credits for the tax year beginning on 6th April 2004 and subsequent tax years.

Amendment of the Child Tax Credit Regulations

2.  In regulation 7(4) of the Child Tax Credit Regulations (individual element of the child tax credit)—

(a) in sub-paragraph (a) for “£3,600” substitute “£3,840”;

(b) in sub-paragraph (b) for “£4,465” substitute “£4,730”;

(c) in sub-paragraph (c) for “£1,445” substitute “£1,625”;

(d) in sub-paragraph (d) for “£3,600” substitute “£3,840”;

(e) in sub-paragraph (e) for “£4,465” substitute “£4,730”; and

(f) in sub-paragraph (f) for “£1,445” substitute “£1,625”.

Amendment of the Entitlement Regulations

3.  For the Table in Schedule 2 to the Entitlement Regulations substitute the Table set out in the Schedule to these Regulations.

Amendment of the Income Thresholds Regulations

4.  In regulation 3(3) of the Income Thresholds Regulations (first income threshold for those entitled to child tax credit) for “£13,230” substitute “£13,480”.

John Heppell

Jim Murphy

Two of the Lords Commissioners of Her Majesty’s Treasury

29th March 2004