The Child Benefit and Tax Credits (Miscellaneous Amendments) Regulations 2023

Amendment of the Tax Credits (Definition and Calculation of Income) Regulations 2002

3.—(1) The Tax Credits (Definition and Calculation of Income) Regulations 2002(1) are amended as follows.

(2) In regulation 10(2)(2) (investment income), in Table 4 (payments in the calculation of investment income), at item 9—

(a) in column 1, after “ITTOIA)” insert “or under the Victims of Overseas Terrorism Compensation Scheme 2012(3) or any corresponding scheme established under section 47 of the Crime and Security Act 2010(4)”,

(b) for the entry in column 2 substitute—

“The amount to which no liability to income tax arises under section 732 of ITTOIA.”.

(3) In regulation 19(5) (general disregards in the calculation of income), in Table 6 (sums to be disregarded in the calculation of income), after item 43 insert—

“44.   An award of compensation made under the Victims of Overseas Terrorism Compensation Scheme 2012 or any corresponding scheme established under section 47 of the Crime and Security Act 2010.”.

(1)

S.I. 2002/2006.

(2)

Regulation 10(2) was relevantly amended by S.I. 2003/2815 and 2006/766.

(3)

Details of this scheme have been published on assets.publishing.service.gov.uk/media/5a7c7db340f0b62aff6c20b5/9780108512124.pdf. Paper copies of all relevant documentation relating to the scheme are available for inspection at: His Majesty’s Revenue and Customs at 100 Parliament Street, London, SW1A 2BQ.

(4)

2010 c. 17.

(5)

Regulation 19 was relevantly amended by S.I. 2003/732, 2003/2815, 2004/762, 2006/766, 2009/2887, 2010/751, 2010/2914, 2011/721, 2013/591, 2014/513, 2016/360, 2016/978, 2018/365, 2019/364, 2020/297, 2020/534, 2020/941, 2020/1515, 2021/495, 2021/810, 2021/1286 and 2022/346 and S.I. 2004/1748 (W. 185).