Universal Credit – calculation of unearned income
4.—(1) The Universal Credit Regulations 2013(1) are amended as follows.
(2) In regulation 73 (unearned income calculated monthly) after paragraph (2) insert—
“(2A) Where the period in respect of which unearned income is paid begins or ends during an assessment period the amount of unearned income for that assessment period is to be calculated as follows—
where N is the number of days in respect of which unearned income is paid that fall within the assessment period and M is the monthly amount referred to in paragraph (1) or, as the case may be, the monthly equivalent referred to in paragraph (2).”.
(1)