Statutory Instruments
2013 No. 750
Tax Credits
The Tax Credits Up-rating, etc. Regulations 2013
Made
26th March 2013
Coming into force
6th April 2013
Following a review in the tax year 2012-13 of the amounts specified in section 41(2) of the Tax Credits Act 2002( 1 ), the Treasury have determined that Regulations should be made prescribing increases in some of those amounts.
A draft of these Regulations was laid before Parliament in accordance with section 66(1) and (2)(a) of that Act and approved by a resolution of each House of Parliament.
The Treasury make the following Regulations in the exercise of the powers conferred by sections 7(1)(a), 7(3), 9, 11, 13, 65(1) and 67 of that Act( 2 ).
Citation, commencement and effect
1. —(1) These Regulations may be cited as the Tax Credits Up-rating, etc. Regulations 2013 and come into force on 6th April 2013.
(2) These Regulations have effect in relation to awards of tax credits for the tax year beginning on 6th April 2013 and subsequent tax years.
Amendment of the Child Tax Credit Regulations 2002
2. —(1)Regulation 7 of the Child Tax Credit Regulations 2002( 3 ) (determination of the maximum rate) is amended as follows.
(2) In paragraph (4)—
(a) in sub-paragraph (a) for “£5,640” substitute “£5,735”;
(b) in sub-paragraph (b) for “£6,830” substitute “£6,955”;
(c) in sub-paragraph (c) for “£2,690” substitute “£2,720”;
(d) in sub-paragraph (d) for “£5,640” substitute “£5,735”;
(e) in sub-paragraph (e) for “£6,830” substitute “£6,955”;
(f) in sub-paragraph (f) for “£2,690” substitute “£2,720”.
Amendment of the Working Tax Credit (Entitlement and Maximum Rate) Regulations 2002
3. —(1)The Working Tax Credit (Entitlement and Maximum Rate) Regulations 2002( 4 ) are amended as follows.
(2) For the table in Schedule 2 (maximum rates of the elements of a working tax credit) substitute—
“ Relevant element of working tax credit | Maximum annual rate |
|---|---|
| 1. Basic element | £1,920 |
| 2. Disability element | £2,855 |
| 3. 30 hour element | £790 |
| 4. Second adult element | £1,970 |
| 5. Lone parent element | £1,970 |
| 6. Severe disability element | £1,220 ” |
Amendment of the Tax Credits (Income Thresholds and Determination of Rates) Regulations 2002
4. —(1)The Tax Credits (Income Thresholds and Determination of Rates) Regulations 2002( 5 ) are amended as follows.
(2) In regulation 3(3) (manner in which amounts to be determined for the purposes of section 7(1)(a) of the Act) for “£15,860” substitute “£15,910”.
(3) In regulation 5(a) (amounts prescribed for the purposes of section 7(3) of the Act) for “£10,000” substitute “£5,000”.
(4) In regulation 8(3) (determination of rate of child tax credit) in Step 4 for “£15,860” substitute “£15,910”.
Robert Goodwill
Stephen Crabb
Two of the Lords Commissioners of Her Majesty’s Treasury
26th March 2013
Section 67 provides that “prescribed” means “prescribed by regulations”.
S.I. 2002/2007 ; the last relevant amending instrument is S.I. 2012/849 .
S.I. 2002/2005 ; the last relevant amending instrument is S.I. 2012/849 .
S.I. 2002/2008 ; relevant amending instruments are S.I. 2010/751 and S.I. 2010/981 .