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The Tax Credits and Guardian’s Allowance Up-rating etc. Regulations 2018

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Draft Legislation:

This is a draft item of legislation. This draft has since been made as a UK Statutory Instrument: The Tax Credits and Guardian’s Allowance Up-rating etc. Regulations 2018 No. 344

EXPLANATORY NOTE

(This note is not part of the Regulations)

These Regulations amend the Working Tax Credit (Entitlement and Maximum Rate) Regulations 2002 (S.I. 2002/2005); the Child Tax Credit Regulations 2002 (S.I. 2002/2007); the Social Security Contributions and Benefits Act 1992 (c. 4); and the Social Security Contributions and Benefits (Northern Ireland) Act 1992 (c. 7).

Regulation 2 increases the maximum rate of the disability and severe disability elements of working tax credit from £3,000 and £1,290 to £3,090 and £1,330 respectively.

Regulation 3 increases the rate of the disability element of child tax credit from £3,175 to £3,275 for a disabled child or qualifying young person and from £4,465 to £4,600 for a severely disabled child or qualifying young person.

Regulations 4 and 5 increase the weekly rate of guardian’s allowance from £16.70 to £17.20.

A full impact assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.

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