[F1The transitional capital disregardU.K.
51.—(1) A transitional capital disregard is to apply where, on the migration day, the claimant—
(a)is entitled to an award of a tax credit; and
(b)has capital exceeding £16,000.
(2) Where a transitional capital disregard applies, any capital exceeding £16,000 is to be disregarded for the purposes of—
(a)determining whether the financial condition in section 5(1)(a) or 5(2)(a) of the Act (capital limit) is met; and
(b)calculating the amount of an award of universal credit (including the indicative UC amount).
(3) Where a transitional capital disregard has been applied in the calculation of an award of universal credit but, in any assessment period, the claimant no longer has (or joint claimants no longer have) capital exceeding £16,000, the transitional capital disregard is not to apply in any subsequent assessment period.
(4) A transitional capital disregard is not to apply for more than 12 assessment periods.]
Textual Amendments
F1Pt. 4 inserted (24.7.2019) by The Universal Credit (Managed Migration Pilot and Miscellaneous Amendments) Regulations 2019 (S.I. 2019/1152), regs. 1(2), 3(7) (with reg. 2)