Value means-tested capital less 10% sale expenses and secured debt (UC reg 49 and legacy equivalents)

changelog.d/uc-capital-sale-expenses.fixed.md

@@ -0,0 +1 @@
+Value Universal Credit, Housing Benefit, Income Support, income-based JSA, income-related ESA and Pension Credit capital at market value less 10% where a sale would incur expenses and less any debt secured on the asset, as UC Regs 2013 reg. 49(1) and its legacy equivalents require. The 10% applies to land, property and corporate_wealth, not to cash savings; corporate_wealth also holds unit trusts, which have no costs of sale, and in datasets built before the private pension split it holds pension wealth, so the deduction reaches those too until the data separate them. Adds secured-debt inputs for other residential property, non-residential property and land.

policyengine_uk/data/uprating_indices.yaml

@@ -100,10 +100,13 @@ gov.economic_assumptions.yoy_growth.obr.per_capita.gdp:
 - miscellaneous_income
 - mortgage_capital_repayment
 - net_financial_wealth
+- non_residential_property_secured_debt
 - non_residential_property_value
 - other_investment_income
+- other_residential_property_secured_debt
 - other_residential_property_value
 - owned_land
+- owned_land_secured_debt
 - pension_credit_reported_capital
 - pension_income
 - private_pension_wealth

policyengine_uk/parameters/gov/dwp/ESA/income/capital/sale_expenses/rate.yaml

@@ -0,0 +1,18 @@
+description: >
+  Share of the current market or surrender value deducted from income-related
+  ESA capital where there would be expenses attributable to sale. It is a flat
+  10% whatever the actual costs, taken from the gross value before any
+  encumbrance secured on the asset is deducted.
+values:
+  2008-10-27: 0.1
+metadata:
+  label: Income-related ESA capital sale expense deduction
+  period: year
+  unit: /1
+  reference:
+    - title: Employment and Support Allowance Regulations 2008 reg. 113(a)
+      href: https://www.legislation.gov.uk/uksi/2008/794/regulation/113
+    - title: Employment and Support Allowance Regulations (Northern Ireland) 2008 reg. 113(a)
+      href: https://www.legislation.gov.uk/nisr/2008/280/regulation/113
+    - title: Decision Makers' Guide chapter 52, para. 52624
+      href: https://assets.publishing.service.gov.uk/media/69d8f30ad3e08b8871b665ac/dmg-Ch-52.pdf#page=116

policyengine_uk/parameters/gov/dwp/ESA/income/capital/sale_expenses/sources.yaml

@@ -0,0 +1,39 @@
+description: >
+  Capital sources whose sale would incur expenses, so that income-related ESA
+  values them at 90% of market value. Costs of sale normally arise where an
+  agent, broker, auctioneer, solicitor or accountant is needed, and real
+  property always has them (DMG 52622), so `owned_land`,
+  `other_residential_property_value` and `non_residential_property_value` are
+  listed. `savings` is not listed: a bank or building society account is
+  valued at its balance, and the costs of withdrawing money are not costs of
+  sale (DMG 52620-52623 and 52685). `corporate_wealth` is listed because
+  shares are valued less 10% for the costs of selling them (DMG 52671).
+  It is a mixed variable, though: it also holds unit trusts, which have no
+  costs of sale (DMG 52681), stocks and shares ISAs and employee share
+  options, and datasets built before private pension wealth was split out also
+  fold non-defined-benefit pension wealth into it, which is not capital at
+  all. The deduction reaches all of these until the data separate them.
+  Sources not counted as income-related ESA capital are ignored.
+metadata:
+  label: Income-related ESA capital sources with sale expenses
+  period: year
+  unit: list
+  reference:
+    - title: Employment and Support Allowance Regulations 2008 reg. 113(a)
+      href: https://www.legislation.gov.uk/uksi/2008/794/regulation/113
+    - title: Employment and Support Allowance Regulations (Northern Ireland) 2008 reg. 113(a)
+      href: https://www.legislation.gov.uk/nisr/2008/280/regulation/113
+    - title: Decision Makers' Guide chapter 52, paras. 52620-52622
+      href: https://assets.publishing.service.gov.uk/media/69d8f30ad3e08b8871b665ac/dmg-Ch-52.pdf#page=115
+    - title: Decision Makers' Guide chapter 52, para. 52623
+      href: https://assets.publishing.service.gov.uk/media/69d8f30ad3e08b8871b665ac/dmg-Ch-52.pdf#page=116
+    - title: Decision Makers' Guide chapter 52, para. 52671
+      href: https://assets.publishing.service.gov.uk/media/69d8f30ad3e08b8871b665ac/dmg-Ch-52.pdf#page=126
+    - title: Decision Makers' Guide chapter 52, paras. 52681 and 52685
+      href: https://assets.publishing.service.gov.uk/media/69d8f30ad3e08b8871b665ac/dmg-Ch-52.pdf#page=128
+values:
+  2008-10-27:
+    - owned_land
+    - other_residential_property_value
+    - non_residential_property_value
+    - corporate_wealth

policyengine_uk/parameters/gov/dwp/JSA/income/capital/sale_expenses/rate.yaml

@@ -0,0 +1,21 @@
+description: >
+  Share of the current market or surrender value deducted from income-based
+  JSA capital where there would be expenses attributable to sale. It is a flat
+  10% whatever the actual costs, taken from the gross value before any
+  encumbrance secured on the asset is deducted. Before 1 October 2007 the same
+  deduction sat in reg. 111(a)(i) alongside a separate valuation for National
+  Savings Certificates; SI 2007/2618 substituted the regulation in its current
+  form.
+values:
+  1996-10-07: 0.1
+metadata:
+  label: Income-based JSA capital sale expense deduction
+  period: year
+  unit: /1
+  reference:
+    - title: Jobseeker's Allowance Regulations 1996 reg. 111(a)
+      href: https://www.legislation.gov.uk/uksi/1996/207/regulation/111
+    - title: Jobseeker's Allowance Regulations (Northern Ireland) 1996 reg. 111(a), as substituted by S.R. 2007/396 reg. 7(11)
+      href: https://www.legislation.gov.uk/nisr/2007/396/regulation/7
+    - title: Decision Makers' Guide chapter 29, para. 29624
+      href: https://assets.publishing.service.gov.uk/media/69d8f3a496c86b751317022c/dmg-Ch-29.pdf#page=125

policyengine_uk/parameters/gov/dwp/JSA/income/capital/sale_expenses/sources.yaml

@@ -0,0 +1,37 @@
+description: >
+  Capital sources whose sale would incur expenses, so that income-based JSA
+  values them at 90% of market value. Costs of sale normally arise where an
+  agent, broker, auctioneer, solicitor or accountant is needed, and real
+  property always has them (DMG 29622), so `owned_land`,
+  `other_residential_property_value` and `non_residential_property_value` are
+  listed. `savings` is not listed: a bank or building society account is
+  valued at its balance, and the costs of withdrawing money are not costs of
+  sale (DMG 29620-29623 and 29685). `corporate_wealth` is listed because
+  shares are valued less 10% for the costs of selling them (DMG 29671). It is
+  a mixed variable, though: it also holds unit trusts, which have no costs of
+  sale (DMG 29681), stocks and shares ISAs and employee share options, and
+  datasets built before private pension wealth was split out also fold non-
+  defined-benefit pension wealth into it, which is not capital at all. The
+  deduction reaches all of these until the data separate them. Sources not
+  counted as income-based JSA capital are ignored.
+metadata:
+  label: Income-based JSA capital sources with sale expenses
+  period: year
+  unit: list
+  reference:
+    - title: Jobseeker's Allowance Regulations 1996 reg. 111(a)
+      href: https://www.legislation.gov.uk/uksi/1996/207/regulation/111
+    - title: Jobseeker's Allowance Regulations (Northern Ireland) 1996 reg. 111(a), as substituted by S.R. 2007/396 reg. 7(11)
+      href: https://www.legislation.gov.uk/nisr/2007/396/regulation/7
+    - title: Decision Makers' Guide chapter 29, paras. 29620-29623
+      href: https://assets.publishing.service.gov.uk/media/69d8f3a496c86b751317022c/dmg-Ch-29.pdf#page=124
+    - title: Decision Makers' Guide chapter 29, para. 29671
+      href: https://assets.publishing.service.gov.uk/media/69d8f3a496c86b751317022c/dmg-Ch-29.pdf#page=137
+    - title: Decision Makers' Guide chapter 29, paras. 29681 and 29685
+      href: https://assets.publishing.service.gov.uk/media/69d8f3a496c86b751317022c/dmg-Ch-29.pdf#page=139
+values:
+  1996-10-07:
+    - owned_land
+    - other_residential_property_value
+    - non_residential_property_value
+    - corporate_wealth

policyengine_uk/parameters/gov/dwp/housing_benefit/means_test/capital/sale_expenses/rate.yaml

@@ -0,0 +1,27 @@
+description: >
+  Share of the current market or surrender value deducted from Housing Benefit
+  capital where there would be expenses attributable to sale. It is a flat 10%
+  whatever the actual costs, taken from the gross value before any encumbrance
+  secured on the asset is deducted. Before 1 October 2007 the same deduction
+  sat in reg. 47(a)(i) (reg. 45(a)(i) at pension age) alongside a separate
+  valuation for National Savings Certificates; SI 2007/2618 substituted the
+  regulation in its current form.
+values:
+  2006-04-10: 0.1
+metadata:
+  label: Housing Benefit capital sale expense deduction
+  period: year
+  unit: /1
+  reference:
+    - title: The Housing Benefit Regulations 2006 reg. 47(a)
+      href: https://www.legislation.gov.uk/uksi/2006/213/regulation/47
+    - title: The Housing Benefit (Persons who have attained the qualifying age for state pension credit) Regulations 2006 reg. 45(a)
+      href: https://www.legislation.gov.uk/uksi/2006/214/regulation/45
+    - title: The Housing Benefit Regulations (Northern Ireland) 2006 reg. 44(a)
+      href: https://www.legislation.gov.uk/nisr/2006/405/regulation/44
+    - title: The Housing Benefit (Persons who have attained the qualifying age for state pension credit) Regulations (Northern Ireland) 2006 reg. 43(a)
+      href: https://www.legislation.gov.uk/nisr/2006/406/regulation/43
+    - title: Housing Benefit Guidance Manual BW1, para. W1.430
+      href: https://assets.publishing.service.gov.uk/media/5a749328ed915d0e8e3994c0/hbgm-bw1-assessment-of-capital.pdf#page=36
+    - title: MH v London Borough of Waltham Forest (HB) [2016] UKUT 161 (AAC), para. 43
+      href: https://www.gov.uk/administrative-appeals-tribunal-decisions/mh-v-london-borough-of-waltham-forest-hb-2016-ukut-161-aac

policyengine_uk/parameters/gov/dwp/housing_benefit/means_test/capital/sale_expenses/sources.yaml

@@ -0,0 +1,52 @@
+description: >
+  Capital sources whose sale would incur expenses, so that Housing Benefit
+  values them at 90% of market value. Costs of sale normally arise where an
+  agent, broker, auctioneer, solicitor or accountant is needed, and real
+  property always has them (R(IS) 21/93, as DMG 29622 applies it; HBGM W1.430
+  states the general 10% rule), so `owned_land`,
+  `other_residential_property_value` and `non_residential_property_value` are
+  listed. `savings` is not listed: a bank or building society account is
+  valued at its balance, and the costs of withdrawing money are not costs of
+  sale (HBGM BW1 Annex F and BP1 F2.03). `corporate_wealth` is listed because
+  shares are valued less 10% for the costs of selling them (HBGM W1.513). It
+  is a mixed variable, though: it also holds unit trusts, which have no costs
+  of sale (HBGM W1.530-W1.531), stocks and shares ISAs and employee share
+  options, and datasets built before private pension wealth was split out also
+  fold non-defined-benefit pension wealth into it, which is not capital at
+  all. The deduction reaches all of these until the data separate them.
+  Sources not counted as Housing Benefit capital are ignored.
+metadata:
+  label: Housing Benefit capital sources with sale expenses
+  period: year
+  unit: list
+  reference:
+    - title: The Housing Benefit Regulations 2006 reg. 47(a)
+      href: https://www.legislation.gov.uk/uksi/2006/213/regulation/47
+    - title: The Housing Benefit (Persons who have attained the qualifying age for state pension credit) Regulations 2006 reg. 45(a)
+      href: https://www.legislation.gov.uk/uksi/2006/214/regulation/45
+    - title: The Housing Benefit Regulations (Northern Ireland) 2006 reg. 44(a)
+      href: https://www.legislation.gov.uk/nisr/2006/405/regulation/44
+    - title: The Housing Benefit (Persons who have attained the qualifying age for state pension credit) Regulations (Northern Ireland) 2006 reg. 43(a)
+      href: https://www.legislation.gov.uk/nisr/2006/406/regulation/43
+    - title: Housing Benefit Guidance Manual BW1, para. W1.430
+      href: https://assets.publishing.service.gov.uk/media/5a749328ed915d0e8e3994c0/hbgm-bw1-assessment-of-capital.pdf#page=36
+    - title: Housing Benefit Guidance Manual BP1, para. P1.430
+      href: https://assets.publishing.service.gov.uk/media/5a7ec5d840f0b6230268b71f/hbgm-bp1-assessment-of-capital.pdf#page=31
+    - title: Decision Makers' Guide chapter 29, para. 29622 (real property, R(IS) 21/93)
+      href: https://assets.publishing.service.gov.uk/media/69d8f3a496c86b751317022c/dmg-Ch-29.pdf#page=124
+    - title: Housing Benefit Guidance Manual BW1, para. W1.513
+      href: https://assets.publishing.service.gov.uk/media/5a749328ed915d0e8e3994c0/hbgm-bw1-assessment-of-capital.pdf#page=43
+    - title: Housing Benefit Guidance Manual BW1, paras. W1.530-W1.531
+      href: https://assets.publishing.service.gov.uk/media/5a749328ed915d0e8e3994c0/hbgm-bw1-assessment-of-capital.pdf#page=43
+    - title: Housing Benefit Guidance Manual BP1, paras. P1.513 and P1.530-P1.531
+      href: https://assets.publishing.service.gov.uk/media/5a7ec5d840f0b6230268b71f/hbgm-bp1-assessment-of-capital.pdf#page=38
+    - title: Housing Benefit Guidance Manual BW1, Annex F
+      href: https://assets.publishing.service.gov.uk/media/5a749328ed915d0e8e3994c0/hbgm-bw1-assessment-of-capital.pdf#page=93
+    - title: Housing Benefit Guidance Manual BP1, paras. F2.00-F2.03
+      href: https://assets.publishing.service.gov.uk/media/5a7ec5d840f0b6230268b71f/hbgm-bp1-assessment-of-capital.pdf#page=83
+values:
+  2006-04-10:
+    - owned_land
+    - other_residential_property_value
+    - non_residential_property_value
+    - corporate_wealth

policyengine_uk/parameters/gov/dwp/income_support/means_test/capital/sale_expenses/rate.yaml

@@ -0,0 +1,20 @@
+description: >
+  Share of the current market or surrender value deducted from Income Support
+  capital where there would be expenses attributable to sale. It is a flat 10%
+  whatever the actual costs, taken from the gross value before any encumbrance
+  secured on the asset is deducted. Before 1 October 2007 the same deduction
+  sat in reg. 49(a)(i) alongside a separate valuation for National Savings
+  Certificates; SI 2007/2618 substituted the regulation in its current form.
+values:
+  2010-01-01: 0.1
+metadata:
+  label: Income Support capital sale expense deduction
+  period: year
+  unit: /1
+  reference:
+    - title: Income Support (General) Regulations 1987 reg. 49(a)
+      href: https://www.legislation.gov.uk/uksi/1987/1967/regulation/49
+    - title: Income Support (General) Regulations (Northern Ireland) 1987 reg. 49(a), as substituted by S.R. 2007/396 reg. 4(10)
+      href: https://www.legislation.gov.uk/nisr/2007/396/regulation/4
+    - title: Decision Makers' Guide chapter 29, para. 29624
+      href: https://assets.publishing.service.gov.uk/media/69d8f3a496c86b751317022c/dmg-Ch-29.pdf#page=125

policyengine_uk/parameters/gov/dwp/income_support/means_test/capital/sale_expenses/sources.yaml

@@ -0,0 +1,37 @@
+description: >
+  Capital sources whose sale would incur expenses, so that Income Support
+  values them at 90% of market value. Costs of sale normally arise where an
+  agent, broker, auctioneer, solicitor or accountant is needed, and real
+  property always has them (DMG 29622), so `owned_land`,
+  `other_residential_property_value` and `non_residential_property_value` are
+  listed. `savings` is not listed: a bank or building society account is
+  valued at its balance, and the costs of withdrawing money are not costs of
+  sale (DMG 29620-29623 and 29685). `corporate_wealth` is listed because
+  shares are valued less 10% for the costs of selling them (DMG 29671). It is
+  a mixed variable, though: it also holds unit trusts, which have no costs of
+  sale (DMG 29681), stocks and shares ISAs and employee share options, and
+  datasets built before private pension wealth was split out also fold non-
+  defined-benefit pension wealth into it, which is not capital at all. The
+  deduction reaches all of these until the data separate them. Sources not
+  counted as Income Support capital are ignored.
+metadata:
+  label: Income Support capital sources with sale expenses
+  period: year
+  unit: list
+  reference:
+    - title: Income Support (General) Regulations 1987 reg. 49(a)
+      href: https://www.legislation.gov.uk/uksi/1987/1967/regulation/49
+    - title: Income Support (General) Regulations (Northern Ireland) 1987 reg. 49(a), as substituted by S.R. 2007/396 reg. 4(10)
+      href: https://www.legislation.gov.uk/nisr/2007/396/regulation/4
+    - title: Decision Makers' Guide chapter 29, paras. 29620-29623
+      href: https://assets.publishing.service.gov.uk/media/69d8f3a496c86b751317022c/dmg-Ch-29.pdf#page=124
+    - title: Decision Makers' Guide chapter 29, para. 29671
+      href: https://assets.publishing.service.gov.uk/media/69d8f3a496c86b751317022c/dmg-Ch-29.pdf#page=137
+    - title: Decision Makers' Guide chapter 29, paras. 29681 and 29685
+      href: https://assets.publishing.service.gov.uk/media/69d8f3a496c86b751317022c/dmg-Ch-29.pdf#page=139
+values:
+  2010-01-01:
+    - owned_land
+    - other_residential_property_value
+    - non_residential_property_value
+    - corporate_wealth

policyengine_uk/parameters/gov/dwp/pension_credit/income/capital/sale_expenses/rate.yaml

@@ -0,0 +1,20 @@
+description: >
+  Share of the current market or surrender value deducted from Pension Credit
+  capital where there would be expenses attributable to sale. It is a flat 10%
+  whatever the actual costs, taken from the gross value before any encumbrance
+  secured on the asset is deducted. Before 1 October 2007 the same deduction
+  sat in reg. 19(a)(i) alongside a separate valuation for National Savings
+  Certificates; SI 2007/2618 substituted the regulation in its current form.
+values:
+  2003-10-06: 0.1
+metadata:
+  label: Pension Credit capital sale expense deduction
+  period: year
+  unit: /1
+  reference:
+    - title: State Pension Credit Regulations 2002 reg. 19(a)
+      href: https://www.legislation.gov.uk/uksi/2002/1792/regulation/19
+    - title: State Pension Credit Regulations (Northern Ireland) 2003 reg. 19(a)
+      href: https://www.legislation.gov.uk/nisr/2003/28/regulation/19
+    - title: Decision Makers' Guide chapter 84, paras. 84712-84716
+      href: https://assets.publishing.service.gov.uk/media/6a5e38bb8b7e4fa537e693d5/dmg-ch84.pdf#page=99

policyengine_uk/parameters/gov/dwp/pension_credit/income/capital/sale_expenses/sources.yaml

@@ -0,0 +1,39 @@
+description: >
+  Capital sources whose sale would incur expenses, so that Pension Credit
+  values them at 90% of market value. Costs of sale normally arise where an
+  agent, broker, auctioneer, solicitor or accountant is needed, and real
+  property always has them (DMG 84714), so `owned_land`,
+  `other_residential_property_value` and `non_residential_property_value` are
+  listed. `savings` is not listed: a bank or building society account is
+  valued at its balance, and the costs of withdrawing money are not costs of
+  sale (DMG 84712-84715 and 84731). `corporate_wealth` is listed because
+  shares are valued less 10% for the costs of selling them (DMG 84763). It is
+  a mixed variable, though: it also holds unit trusts, which have no costs of
+  sale (DMG 84772), stocks and shares ISAs and employee share options, and
+  datasets built before private pension wealth was split out also fold non-
+  defined-benefit pension wealth into it, which is not capital at all. The
+  deduction reaches all of these until the data separate them. Sources not
+  counted as Pension Credit capital are ignored.
+metadata:
+  label: Pension Credit capital sources with sale expenses
+  period: year
+  unit: list
+  reference:
+    - title: State Pension Credit Regulations 2002 reg. 19(a)
+      href: https://www.legislation.gov.uk/uksi/2002/1792/regulation/19
+    - title: State Pension Credit Regulations (Northern Ireland) 2003 reg. 19(a)
+      href: https://www.legislation.gov.uk/nisr/2003/28/regulation/19
+    - title: Decision Makers' Guide chapter 84, paras. 84712-84715
+      href: https://assets.publishing.service.gov.uk/media/6a5e38bb8b7e4fa537e693d5/dmg-ch84.pdf#page=99
+    - title: Decision Makers' Guide chapter 84, para. 84731
+      href: https://assets.publishing.service.gov.uk/media/6a5e38bb8b7e4fa537e693d5/dmg-ch84.pdf#page=102
+    - title: Decision Makers' Guide chapter 84, para. 84763
+      href: https://assets.publishing.service.gov.uk/media/6a5e38bb8b7e4fa537e693d5/dmg-ch84.pdf#page=107
+    - title: Decision Makers' Guide chapter 84, para. 84772
+      href: https://assets.publishing.service.gov.uk/media/6a5e38bb8b7e4fa537e693d5/dmg-ch84.pdf#page=109
+values:
+  2003-10-06:
+    - owned_land
+    - other_residential_property_value
+    - non_residential_property_value
+    - corporate_wealth