SCHEDULES
SCHEDULE 1Universal credit: supplementary regulation-making powers
Calculation of capital and income4
1
Regulations may for any purpose of this Part provide for the calculation or estimation of—
a
a person’s capital,
b
a person’s earned and unearned income, and
c
a person’s earned and unearned income in respect of an assessment period.
2
Regulations under sub-paragraph (1)(c) may include provision for the calculation to be made by reference to an average over a period, which need not include the assessment period concerned.
3
Regulations under sub-paragraph (1) may—
a
specify circumstances in which a person is to be treated as having or not having capital or earned or unearned income;
b
specify circumstances in which income is to be treated as capital or capital as earned income or unearned income;
c
specify circumstances in which unearned income is to be treated as earned, or earned income as unearned;
d
provide that a person’s capital is to be treated as yielding income at a prescribed rate;
e
provide that the capital or income of one member of a couple is to be treated as that of the other member.
4
Regulations under sub-paragraph (3)(a) may in particular provide that persons of a prescribed description are to be treated as having a prescribed minimum level of earned income.
5
In the case of joint claimants the income and capital of the joint claimants includes (subject to sub-paragraph (6)) the separate income and capital of each of them.
6
Regulations may specify circumstances in which capital and income of either of joint claimants is to be disregarded in calculating their joint capital and income.