PART 10INCOME AND CAPITAL
CHAPTER 7Capital
Income treated as capital112
1
Any bounty derived from employment to which regulation 43(1)(e) and paragraph 12 of Schedule 7 apply and paid at intervals of at least one year is to be treated as capital.
2
3
Any holiday pay which is not earnings under regulation 95(1)(d) (earnings of employed earners) is to be treated as capital.
4
Except any income derived from capital disregarded under paragraph 1, 2, 4 to 8, 10, 16, 43 or 44 of Schedule 9, any income derived from capital is to be treated as capital but only from the date it is normally due to be credited to the claimant's account.
5
In the case of employment as an employed earner, any advance of earnings or any loan made by the claimant's employer is to be treated as capital.
6
7
Any charitable or voluntary payment which is not made or not due to be made at regular intervals, other than one to which paragraph (8) applies, is to be treated as capital.
F58
This paragraph applies to—
a
any payment which is made under or by the Macfarlane Trust, the Macfarlane (Special Payments) Trust, the Macfarlane (Special Payments) (No. 2) Trust, the Fund, the Eileen Trust, MFET Limited, the Skipton Fund, the Caxton Foundation, the Scottish Infected Blood Support Scheme, an approved blood scheme, the London Emergencies Trust, the We Love Manchester Emergency Fund, the National Emergencies Trust F7, the Victims of Overseas Terrorism Compensation Scheme or the Independent Living Fund (2006); or
9
Any arrears of subsistence allowance which are paid to a claimant as a lump sum are to be treated as capital.