The Council Tax Reduction Schemes (Default Scheme) (Wales) Regulations 2012 No. 3145 (W. 317)

SCHEDULE Council Tax Reduction Schemes (Default Scheme) (Wales)

PART 9 Income and capital for the purposes of calculating eligibility for a reduction under this scheme and amount of reduction

CHAPTER 7 Capital

Calculation of capital in the United Kingdom

62.  Capital which an applicant possesses in the United Kingdom is to be calculated at its current market or surrender value less—

(a) where there would be expenses attributable to the sale, 10 per cent; and

(b) the amount of any encumbrance secured on it.