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In force since 2024-02-29, as the publisher states.
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Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.
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8 provisions
Title and introductory text
2024 No. 247
SOCIAL SECURITY
TAX CREDITS
The Tax Credits, Child Benefit and Guardian’s Allowance Up-rating Regulations 2024
Made
29th February 2024
Coming into force in accordance with regulation 1(2) and (3)
Following a review under section 41(1) of the Tax Credits Act 2002 in the year 2023-24 of the amounts specified in section 41(2) of that Act, the Treasury have determined that Regulations should be made prescribing increases to those amounts.
Following a review of the sums specified in section 150(1)(a)(i) and (1)(i) of the Social Security Administration Act 1992 in the tax year 2023-24, the Treasury have determined that the general level of prices in Great Britain is greater at the end of the period under review than it was at the beginning. These Regulations make provision under section 150 of the Social Security Administration Act 1992 and make corresponding provision for Northern Ireland in accordance with section 132(1) of the Social Security Administration (Northern Ireland) Act 1992.
A draft of these Regulations was laid before Parliament in accordance with section 66(1) and (2)(a) of the Tax Credits Act 2002, sections 150(2) and 190(1) of the Social Security Administration Act 1992, and section 166(10A) of the Social Security Administration (Northern Ireland) Act 1992, and approved by a resolution of each House of Parliament.
The Treasury make the following Regulations in exercise of the powers conferred by sections 7, 9, 11, 13, 65(1) and 67 of the Tax Credits Act 2002, section 150(2), (5), (9) and (10)(a)(i) of the Social Security Administration Act 1992, and section 132(1) of the Social Security Administration (Northern Ireland) Act 1992 and now exercisable by them.
Propose a change1 Citation, commencement and effect
(1) These Regulations may be cited as the Tax Credits, Child Benefit and Guardian’s Allowance Up-rating Regulations 2024.
(2) This regulation and regulations 2, 3 and 4 come into force on 6th April 2024.
(3) Regulations 5, 6 and 7 come into force on 8th April 2024.
(4) Regulations 2, 3 and 4 have effect in relation to awards of tax credits for the tax year beginning on 6th April 2024 and subsequent tax years.
Propose a change2 Amendment of the Working Tax Credit (Entitlement and Maximum Rate) Regulations 2002
The table in Schedule 2 (maximum rates of the elements of a working tax credit) to the Working Tax Credit (Entitlement and Maximum Rate) Regulations 2002 is amended as follows—
(a) in item 1 (basic element), in the second column for “£2,280” substitute “£2,435”;
(b) in item 2 (disability element), in the second column for “£3,685” substitute “£3,935”;
(c) in item 3 (30 hours element), in the second column for “£950” substitute “£1,015”;
(d) in items 4 (second adult element) and 5 (lone parent element), in the second column for “£2,340” substitute “£2,500”; and
(e) in item 6 (severe disability element), in the second column for “£1,595” substitute “£1,705”.
Propose a change3 Amendment of the Child Tax Credit Regulations 2002
Regulation 7 (determination of the maximum rate at which a person or persons may be entitled to child tax credit) of the Child Tax Credit Regulations 2002 is amended as follows—
(a) in paragraph (4)(c) and 4(f) for “£3,235” substitute “£3,455”; and
(b) in paragraph (5)—
(i) in sub-paragraph (a) for “£3,905” substitute “£4,170”; and
(ii) in sub-paragraph (b) for “£5,480” substitute “£5,850”.
Propose a change4 Amendment of the Tax Credits (Income Thresholds and Determination of Rates) Regulations 2002
(1) The Tax Credits (Income Thresholds and Determination of Rates) Regulations 2002 are amended as follows.
(2) In regulation 3 (manner in which amounts to be determined for the purposes of section 7(1)(a) of the Act)—
(a) in paragraph (2) for “£7,455” substitute “£7,955”; and
(b) in paragraph (3) for “£18,725” substitute “£19,995”.
(3) In regulation 7(3) (determination of rate of working tax credit) in Step 4 for “£6,770” substitute ”£7,995”.
(4) In regulation 8(3) (determination of rate of child tax credit) in Step 4 for “£17,005” substitute “£19,995”.
Propose a change5 Amendment of the Child Benefit (Rates) Regulations 2006
Regulation 2(1) (rate of child benefit) of the Child Benefit (Rates) Regulations 2006 is amended as follows—
(a) in sub-paragraph (a) (enhanced rate) for “£24.00” substitute “£25.60”; and
(b) in sub-paragraph (b) (other cases) for “£15.90” substitute “£16.95”.
Propose a change6 Amendment of Schedule 4 to the Social Security Contributions and Benefits Act 1992
In paragraph 5 of Part 3 of Schedule 4 to the Social Security Contributions and Benefits Act 1992 (weekly rate of guardian’s allowance) for “£20.40” substitute “£21.75”.
Propose a change7 Amendment of Schedule 4 to the Social Security Contributions and Benefits (Northern Ireland) Act 1992
In paragraph 5 of Part 3 of Schedule 4 to the Social Security Contributions and Benefits (Northern Ireland) Act 1992 (weekly rate of guardian’s allowance) for “£20.40” substitute “£21.75”.
Propose a change