The Tax Credits (Income Thresholds and Determination of Rates) Regulations 2002
Section 7(1) of the Tax Credits Act 2002 (c.21) (“the Act”) provides that the entitlement of a person or persons to a tax credit is dependent on “the relevant income” (defined in subsection (3) of that section) not exceeding an income threshold or exceeding the income threshold by only so much as will result in there being a rate of the tax credit in his or their case. These Regulations prescribe the manner in which the income threshold is to be determined and also prescribe amounts in relation to the definition of “the relevant income”.