uksi/2024/287 — The Income Tax (Exemption of Social Security Benefits) Regulations 2024

2024 No. 287 INCOME TAX The Income Tax (Exemption of Social Security Benefits) Regulations 2024 Made 4th March 2024 Laid before the House of Commons 5th March 2024 Coming into force 1st April 2024 The Treasury make these Regulations in exercise of the powers conferred by section 13(1) of the Finance Act 2020 . Citation, commencement and interpretation 1 1 These Regulations may be cited as the Income Tax (Exemption of Social Security Benefits) Regulations 2024 and come into force on 1st April 2024. 2 In these Regulations, “ ITEPA ” means the Income Tax (Earnings and Pensions) Act 2003 . Amendment to the Income Tax (Earnings and Pensions) Act 2003 2 1 Chapter 5 of Part 10 of ITEPA (social security income) is amended as follows. 2 In section 677(1) , in Table B (UK social security benefits wholly exempt from tax: Table B), in Part 1 (benefits payable under primary legislation and Northern Ireland welfare supplementary payments etc), at the appropriate place insert— “Payments made under the Parental Transitions Support scheme LGSA 2003 Section 20”. Modification to the Income Tax (Earnings and Pensions) Act 2003 3 1 Chapter 5 of Part 10 of ITEPA (social security income) is modified as follows. 2 Section 677(1) has effect as if, in Table B (UK social security benefits wholly exempt from tax: Table B), in Part 1 (benefits payable under primary legislation and Northern Ireland welfare supplementary payments etc), at the appropriate place there were inserted— “Payments made under the Jobs Plus Pilot ETA 1973 Section 2”. Scott Mann Mike Wood Two of the Lords Commissioners of His Majesty's Treasury 4th March 2024 Explanatory Note (This note is not part of the Regulations) These Regulations make an amendment and provide for a modification to Chapter 5 of Part 10 of the Income Tax (Earnings and Pensions) Act 2003 (c. 1) (“ ITEPA ”), so as to provide that no liability to income tax arises on social security benefits of a description specified in the Regulations. Regulation 2 amends section 677 of ITEPA by inserting a new row into Part 1 of Table B, in order to wholly exempt payments made under the Parental Transitions Support scheme from income tax. Regulation 3 modifies the effect of section 677 of ITEPA so that payments made pursuant to the Jobs Plus Pilot scheme will be wholly exempt from income tax. A Tax Information and Impact Note has not been prepared for this instrument as it contains no substantive changes to tax policy.