- Latest available (Revised)
- Original (As made)
The Tax Credits (Income Thresholds and Determination of Rates) Regulations 2002
You are here:
- 2002 No. 2008
- Step 8 — finding the amount of the reduction of the family element
What Version
Opening Options
Status:
This is the original version (as it was originally made). UK Statutory Instruments are not carried in their revised form on this site.
Step 8 — finding the amount of the reduction of the family element
Find the amount (if any) which is 6.67% of the amount by which the income for the relevant period (found under Step 3 and rounded down to the nearest penny) exceeds—
(a)in any case where the total of the amounts found under Step 2 for the elements of the tax credit (other than the family element) would be reduced in accordance with Step 7 to nil if the relevant income were £50,000 or less, “X”;
(b)in any other case, “Y”;
where—
“X” is the amount found in accordance with Step 9 and rounded up to the nearest penny;
“Y” is the lowest amount of income for the relevant period (found under Step 3 and rounded up to the nearest penny) which would result in the total of the amounts of the elements of the tax credit (other than the family element) being reduced to nil in accordance with Step 7.
Options/Help
Print Options
Print The Whole Instrument
Print This Cross Heading only
Legislation is available in different versions:
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made):The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Opening Options
Different options to open legislation in order to view more content on screen at once
More Resources
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
- the original print PDF of the as enacted version that was used for the print copy
- lists of changes made by and/or affecting this legislation item
- confers power and blanket amendment details
- all formats of all associated documents
- correction slips
- links to related legislation and further information resources
More Resources
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
- the original print PDF of the as made version that was used for the print copy
- correction slips
Click 'View More' or select 'More Resources' tab for additional information including:
- lists of changes made by and/or affecting this legislation item
- confers power and blanket amendment details
- all formats of all associated documents
- links to related legislation and further information resources