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Rationale for UC allowances & element figures
Just wondering if anybody is aware of any rationale behind the figures for different UC elements?
Whichever way you convert weekly & monthly figures, many of the elements are very close to being the direct equivalent but not quite…
Was the difference between legacy & UC figures ever explained or am I missing something obvious regarding the conversion formula?
I think it was 365 and a quarter days so that it works out the same over a four year cycle, but a few coppers different in a single year.
The elements taken from Tax Credits are exact though - just divide by 12.