http://www.legislation.gov.uk/id/uksi/2013/376

http://www.legislation.gov.uk/uksi/2013/376/regulation/49/2020-08-24

The Universal Credit Regulations 2013

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Statute Law Database

SOCIAL SECURITY

2024-08-09

Expert Participation

2020-08-24

These Regulations contain provisions in relation to universal credit under Part 1 of the Welfare Reform Act 2012 (c.5) (“the Act”). They also include provision for a benefit cap under section 96 of the Act.

The Universal Credit Regulations 2013

Table of Contents

The Universal Credit (Miscellaneous Amendments, Saving and Transitional Provision) Regulations 2018

reg. 3(2)(a)

reg. 1(2)

The Universal Credit Regulations 2013

Table of Contents

The Universal Credit (Miscellaneous Amendments, Saving and Transitional Provision) Regulations 2018

reg. 3(2)(b)

reg. 8(1)

reg. 1(4)

The Universal Credit Regulations 2013

Table of Contents

The Universal Credit (Miscellaneous Amendments, Saving and Transitional Provision) Regulations 2018

reg. 3(2)(c)(i)

reg. 8(2)

(3)

reg. 1(4)

The Universal Credit Regulations 2013

Table of Contents

The Universal Credit (Miscellaneous Amendments, Saving and Transitional Provision) Regulations 2018

reg. 3(2)(c)(ii)

reg. 8(2)

(3)

reg. 1(4)

The Universal Credit Regulations 2013

Table of Contents

The Universal Credit (Miscellaneous Amendments, Saving and Transitional Provision) Regulations 2018

reg. 3(2)(a)

reg. 1(2)

The Universal Credit Regulations 2013

Table of Contents

The Universal Credit (Miscellaneous Amendments, Saving and Transitional Provision) Regulations 2018

reg. 3(2)(b)

reg. 8(1)

reg. 1(4)

The Universal Credit Regulations 2013

Table of Contents

The Universal Credit (Miscellaneous Amendments, Saving and Transitional Provision) Regulations 2018

reg. 3(2)(c)(i)

reg. 8(2)

(3)

reg. 1(4)

The Universal Credit Regulations 2013

Table of Contents

The Universal Credit (Miscellaneous Amendments, Saving and Transitional Provision) Regulations 2018

reg. 3(2)(c)(ii)

reg. 8(2)

(3)

reg. 1(4)

The Universal Credit Regulations 2013

Table of Contents

The Social Security (Income and Capital) (Miscellaneous Amendments) Regulations 2020

reg. 8(3)(a)

reg. 1

The Universal Credit Regulations 2013

Table of Contents

The Social Security (Income and Capital) (Miscellaneous Amendments) Regulations 2020

reg. 8(3)(a)

reg. 1

The Universal Credit Regulations 2013

PART 6CALCULATION OF CAPITAL AND INCOME

CHAPTER 1CAPITAL

Valuation of capital49

1

Capital is to be calculated at its current market value or surrender value less—

a

where there would be expenses attributable to sale, 10%; and

b

the amount of any encumbrances secured on it.

2

The market value of a capital asset possessed by a person in a country outside the United Kingdom is—

a

if there is no prohibition in that country against the transfer of an amount equal to the value of that asset to the United Kingdom, the market value in that country; or

b

if there is such a prohibition, the amount it would raise if sold in the United Kingdom to a willing buyer.

3

Where capital is held in currency other than sterling, it is to be calculated after the deduction of any banking charge or commission payable in converting that capital into sterling.