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United Kingdom Statutory Instruments |
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You are here: BAILII >> Databases >> United Kingdom Statutory Instruments >> The Taxation of Benefits under Government Pilot Schemes (Better off in Work Credit) Order 2008 No. 2603 URL: http://www.bailii.org/uk/legis/num_reg/2008/uksi_20082603_en_1.html |
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Made
6th October 2008
Laid before the House of Commons
6th October 2008
Coming into force
27th October 2008
The Treasury make the following Order in exercise of the powers conferred by section 151(1)(a) and (7)(a) of the Finance Act 1996(1).
1. This Order may be cited as the Taxation of Benefits under Government Pilot Schemes (Better off in Work Credit) Order 2008 and shall come into force on 27th October 2008.
2. In this Order, "Better off in Work Credit" means benefit payable by virtue of the Government pilot scheme known by that name.
3. The Income Tax Acts shall have effect in relation to any amount of Better off in Work Credit as if it was wholly exempt from income tax and accordingly to be disregarded in computing the amount of any receipts brought into account for income tax purposes.
Claire Ward
Dave Watts
Two of the Lords Commissioners of Her Majesty´s Treasury
6th October 2008
(This note is not part of the Order)
This Order is concerned with benefit payable under the Government pilot scheme known as the Better off in Work Credit. The Order provides that any amount of benefit payable by virtue of that pilot scheme is to be treated as wholly exempt from income tax and accordingly is to be disregarded in computing the amount of any receipts brought into account for income tax purposes.
A full and final Impact Assessment has not been produced for this instrument as a negligible impact on the private or voluntary sectors is foreseen.
1996 c. 8. There are amendments to section 151 which are not relevant for the purposes of this instrument. Back [1]
