PolicyEngine-UK 2.136.0__tar.gz → 2.136.1__tar.gz

{policyengine_uk-2.136.0 → policyengine_uk-2.136.1}/CHANGELOG.md

@@ -1,3 +1,10 @@
+## [2.136.1] - 2026-10-19
+
+### Fixed
+
+- - Fixed Universal Credit capital assessment so reported financial savings do not suppress countable property, with assessment-year sale-expense and secured-debt valuation and property allocation independent of financial reports. Retained the inherited residual financial convention, including subtraction of complete overrides from the financial pool, and company substitution after ordinary-source overrides, and documented the legacy pension-proxy limitation. Complete overrides consume their owners' disregarded company holdings once. Override floors and separate holding deductions share one household corporate-wealth budget proportionally, preventing inconsistent holdings from consuming ordinary savings. Bounded each holding before that budget to isolate negative and infinite inputs from other units' capital.
+
+
 ## [2.136.0] - 2026-10-18
 
 ### Added

{policyengine_uk-2.136.0 → policyengine_uk-2.136.1}/PKG-INFO

@@ -1,6 +1,6 @@
 Metadata-Version: 2.5
 Name: policyengine-uk
-Version: 2.136.0
+Version: 2.136.1
 Summary: PolicyEngine tax and benefit system for the UK.
 Project-URL: Homepage, https://github.com/PolicyEngine/policyengine-uk
 Project-URL: Repository, https://github.com/PolicyEngine/policyengine-uk

{policyengine_uk-2.136.0 → policyengine_uk-2.136.1}/policyengine_uk/data/uprating_indices.yaml

@@ -110,8 +110,10 @@ gov.economic_assumptions.yoy_growth.obr.per_capita.gdp:
 - mortgage_capital_repayment
 - net_financial_wealth
 - non_residential_property_value
+- non_residential_property_secured_debt
 - other_investment_income
 - other_residential_property_value
+- other_residential_property_secured_debt
 # Purchase prices a dataset may impute; uprated like the property stocks.
 - additional_residential_property_purchased
 - non_residential_property_purchased
@@ -127,8 +129,8 @@ gov.economic_assumptions.yoy_growth.obr.per_capita.gdp:
 - savings
 - savings_interest_income
 - sublet_income
-# A formula of benunit_reported_capital; listed so a dataset that stores it
-# directly is uprated like the input.
+# An explicit complete UC override stored in a dataset is uprated like the
+# financial input; its default no longer derives from that input.
 - uc_reported_capital
 gov.economic_assumptions.yoy_growth.obr.per_capita.mixed_income:
 - self_employment_income

{policyengine_uk-2.136.0 → policyengine_uk-2.136.1}/policyengine_uk/parameters/gov/dwp/universal_credit/means_test/capital/person_sources.yaml

@@ -8,7 +8,11 @@ description: >
   Lifetime ISA at its surrender value: regulation 49(1) values capital at its
   current market or surrender value, and ADM H1659 counts a Lifetime ISA at
   75% of its value under 60 and in full from 60. Lifetime ISAs exist from 6
-  April 2017, and the list is empty before then.
+  April 2017, and the list is empty before then. A nonnegative financial
+  observation (benunit_reported_capital) replaces these covered financial
+  sources to avoid counting a Lifetime ISA twice. A complete UC override
+  replaces them together with property and the household financial proxy,
+  before the existing regulation 77 company substitution.
 metadata:
   label: Universal Credit person-level capital sources
   period: year

policyengine_uk-2.136.1/policyengine_uk/parameters/gov/dwp/universal_credit/means_test/capital/property_sale_cost_rate.yaml

@@ -0,0 +1,14 @@
+description: >
+  Proportion deducted from current property market value where sale entails
+  expenses, before subtracting secured encumbrances (regulation 49). Broad
+  household property inputs are assumed to incur sale expenses. Cash financial
+  proxies do not receive this deduction.
+values:
+  2013-04-29: 0.1
+metadata:
+  label: Universal Credit property sale expense deduction
+  unit: /1
+  period: year
+  reference:
+    - title: The Universal Credit Regulations 2013 reg. 49(1)
+      href: https://www.legislation.gov.uk/uksi/2013/376/regulation/49/1

policyengine_uk-2.136.1/policyengine_uk/parameters/gov/dwp/universal_credit/means_test/capital/property_sources.yaml

@@ -0,0 +1,25 @@
+description: >
+  Household property amounts valued for Universal Credit in the assessment year
+  after sale expenses and property-specific secured debt, floored separately
+  at zero. The main home is excluded under Schedule 10 paragraph 1. The broad
+  other-property inputs are assumed to have sale expenses and no Schedule 10
+  disregard; reliable asset-level disregard and debt flags are unavailable,
+  so debt defaults to zero unless supplied explicitly. These approximations
+  do not imply all second homes are legally countable. Each net amount is
+  allocated across ALL claimant/partner adults in the household in proportion
+  to their number in each benefit unit, including units with financial reports,
+  complete overrides and no UC receipt. A complete override consumes its share.
+  This is an assumption about unobserved ownership, not a statutory rule.
+metadata:
+  label: Universal Credit countable property sources
+  period: year
+  unit: list
+  reference:
+    - title: The Universal Credit Regulations 2013 reg. 49(1)
+      href: https://www.legislation.gov.uk/uksi/2013/376/regulation/49/1
+    - title: The Universal Credit Regulations 2013 Schedule 10
+      href: https://www.legislation.gov.uk/uksi/2013/376/schedule/10
+values:
+  2013-04-29:
+    - uc_other_residential_property_capital
+    - uc_non_residential_property_capital

policyengine_uk-2.136.1/policyengine_uk/parameters/gov/dwp/universal_credit/means_test/capital/sources.yaml

@@ -0,0 +1,44 @@
+description: >
+  Household financial proxies for Universal Credit: savings and corporate
+  financial wealth. A nonnegative benunit_reported_capital replaces these
+  financial proxies and covered person-level sources, including a Lifetime ISA.
+  Each benefit unit's complete uc_reported_capital override, otherwise its
+  observed financial total, reduces this financial pool. Subtracting complete
+  overrides retains the inherited allocation convention. An override precedes
+  regulation 77 company substitution and includes its claimant's and partner's
+  holdings: consume at least their disregarded holdings after applying one
+  household corporate_wealth budget without removing them again from the pool.
+  First clip each person's holding to [0, max(0, corporate_wealth)], with
+  positive infinity mapped to the upper bound and negative infinity to zero.
+  If total bounded holdings exceed nonnegative corporate_wealth, scale each
+  person's bounded holding proportionally before override floors and separate
+  pool deductions.
+  This is a defensive rule for inconsistent inputs, not a statutory determination;
+  regulation 77 substitution in the owner's own assessment is unchanged.
+  The residual is allocated by
+  claimant/partner counts to benefit units with neither a financial observation
+  nor a complete override,
+  including units that do not receive UC. This allocation is an assumption
+  about unobserved ownership, not a statutory rule. Countable property is
+  valued and shared independently through property_sources across ALL
+  claimant/partner adults, with complete-override units consuming their shares.
+  Main-home property and the named private_pension_wealth input are excluded
+  under Schedule 10 paragraphs 1 and 10. For missing-report households, the
+  legacy corporate_wealth proxy can still contain non-DB pension wealth that
+  is not separately identified and removed. Asset-specific Schedule 10 disregards
+  within these broad financial classes are not separately observed.
+metadata:
+  label: Universal Credit financial capital proxy sources
+  period: year
+  unit: list
+  reference:
+    - title: The Universal Credit Regulations 2013 reg. 46(1)
+      href: https://www.legislation.gov.uk/uksi/2013/376/regulation/46/1
+    - title: The Universal Credit Regulations 2013 reg. 48(1)
+      href: https://www.legislation.gov.uk/uksi/2013/376/regulation/48/1
+    - title: The Universal Credit Regulations 2013 Schedule 10
+      href: https://www.legislation.gov.uk/uksi/2013/376/schedule/10
+values:
+  2013-04-29:
+    - savings
+    - corporate_wealth

{policyengine_uk-2.136.0 → policyengine_uk-2.136.1}/policyengine_uk/tests/policy/baseline/finance/benefit/family/universal_credit/income/uc_income_from_capital.yaml

@@ -18,11 +18,9 @@
 # Every case below has income under the personal allowance, so no income tax
 # or National Insurance, and no housing, child or disability element.
 #
-# Property values are taken as UC capital as entered. Reg. 49(1) would first
-# deduct 10% for sale costs and any secured debt from a property's market
-# value; the model does not yet (#1960). So "£10,000 of let property" below
-# means £10,000 of assessable capital, for example a property with a market
-# value of £11,111.11 and no mortgage.
+# Reg. 49(1): property market value less 10% sale expenses and then secured
+# debt, floored at zero. The let-property cases assume sale expenses, no
+# secured debt and no Schedule 10 disregard, so £10,000 is assessed at £9,000.
 
 - name: Savings interest, dividends and rent below £6,000 of capital leave the award unchanged
   period: 2026
@@ -66,12 +64,13 @@
         savings: 0
         other_residential_property_value: 10_000
   output:
-    # Tariff income on £10,000 of capital: (10,000 - 6,000) / 250 = 16 steps
-    # x £4.35 = £69.60 a month, £835.20 a year. UC = 5,098.80 - 835.20 =
-    # £4,263.60.
-    uc_tariff_income: 835.20
-    uc_unearned_income: 835.20
-    universal_credit: 4_263.60
+    # £10,000 less 10% sale expenses = £9,000. Tariff: (9,000 - 6,000)
+    # / 250 = 12 steps x £4.35 = £52.20 a month, £626.40 a year.
+    # UC = 5,098.80 - 626.40 = £4,472.40.
+    uc_assessable_capital: 9_000
+    uc_tariff_income: 626.40
+    uc_unearned_income: 626.40
+    universal_credit: 4_472.40
 
 - name: Northern Ireland treats rent and interest from capital the same way
   period: 2026
@@ -92,10 +91,12 @@
         savings: 0
         other_residential_property_value: 10_000
   output:
-    # UC Regs (NI) 2016 regs. 66(1) and 72 match the GB text on these points.
-    uc_tariff_income: 835.20
-    uc_unearned_income: 835.20
-    universal_credit: 4_263.60
+    # UC Regs (NI) 2016 regs. 49, 66(1) and 72 match GB on these points:
+    # £9,000 capital after sale expenses, 12 steps, £626.40 annual tariff.
+    uc_assessable_capital: 9_000
+    uc_tariff_income: 626.40
+    uc_unearned_income: 626.40
+    universal_credit: 4_472.40
 
 - name: Rent from a lodger in the home does not reduce the award
   period: 2026

{policyengine_uk-2.136.0 → policyengine_uk-2.136.1}/policyengine_uk/tests/policy/baseline/finance/benefit/family/universal_credit/income/uc_unearned_income.yaml

@@ -221,11 +221,12 @@
         savings: 0
         other_residential_property_value: 10_000
   output:
-    # Tariff income on £10,000 of capital in let property (taken as entered;
-    # reg. 49 valuation is #1960): (10,000 - 6,000) / 250 = 16 steps x £4.35
-    # x 12 = £835.20. Neither the rent nor the interest is added on top of it.
-    uc_tariff_income: 835.20
-    uc_unearned_income: 835.20
+    # Reg. 49: £10,000 property less 10% sale expenses, with no debt,
+    # is £9,000. Tariff: (9,000 - 6,000) / 250 = 12 steps x £4.35 x 12
+    # = £626.40. Neither the rent nor the interest is added on top of it.
+    uc_assessable_capital: 9_000
+    uc_tariff_income: 626.40
+    uc_unearned_income: 626.40
 
 - name: Reported capital drives tariff income for multi-benunit households
   period: 2025

{policyengine_uk-2.136.0 → policyengine_uk-2.136.1}/policyengine_uk/tests/policy/baseline/finance/benefit/family/universal_credit/is_UC_eligible.yaml

@@ -151,7 +151,7 @@
     uc_assessable_capital: [20_000, 20_000]
     is_uc_eligible: [false, false]
 
-- name: Mixed reported and unreported benunits use residual household capital
+- name: Benefit units with and without financial observations use residual household capital
   period: 2025
   absolute_error_margin: 0
   input:
@@ -163,7 +163,7 @@
     benunits:
       benunit_1:
         members: person_1
-        uc_reported_capital: 12_000
+        benunit_reported_capital: 12_000
       benunit_2:
         members: person_2
     households:
@@ -259,7 +259,8 @@
         members: person
         other_residential_property_value: 50_000
   output:
-    uc_assessable_capital: 50_000
+    # Reg. 49: £50,000 market value less 10% sale expenses, with no debt.
+    uc_assessable_capital: 45_000
     is_uc_eligible: false
 
 - name: Countable non-residential property can push capital over the upper threshold
@@ -277,7 +278,8 @@
         members: person
         non_residential_property_value: 50_000
   output:
-    uc_assessable_capital: 50_000
+    # Reg. 49: £50,000 market value less 10% sale expenses, with no debt.
+    uc_assessable_capital: 45_000
     is_uc_eligible: false
 
 - name: Countable corporate wealth can push capital over the upper threshold

{policyengine_uk-2.136.0 → policyengine_uk-2.136.1}/policyengine_uk/tests/policy/baseline/finance/benefit/family/universal_credit/test_uc_capital_allocation.py

@@ -1,4 +1,4 @@
-"""The household capital proxy conserves residual capital within each household."""
+"""The financial proxy conserves residual capital after financial observations."""
 
 import numpy as np
 import pytest
@@ -59,7 +59,9 @@ def household_capital_situations(draw):
                 unreported_indices.append(len(benunits))
             benunits[unit_id] = {
                 "members": members,
-                "uc_reported_capital": {2025: reported_capital if has_reported else -1},
+                "benunit_reported_capital": {
+                    2025: reported_capital if has_reported else -1
+                },
             }
             household_members.extend(members)
         households[f"household_{household_index}"] = {

{policyengine_uk-2.136.0 → policyengine_uk-2.136.1}/policyengine_uk/tests/policy/baseline/finance/benefit/family/universal_credit/uc_assessable_capital.yaml

@@ -88,7 +88,7 @@
     # Previously [0, 36,000]; each now receives 36,000 * 1/2 = 18,000.
     uc_assessable_capital: [18_000, 18_000]
 
-- name: Reported capital leaves a residual split between unreported claimants.
+- name: Reported financial capital leaves a residual split between unreported claimants.
   period: 2025
   input:
     people:
@@ -112,7 +112,7 @@
     benunits:
       reported:
         members: [reported_parent, qualifying_young_person]
-        uc_reported_capital: 8_000
+        benunit_reported_capital: 8_000
       young:
         members: [young_claimant]
       couple:
@@ -122,7 +122,7 @@
         members: [reported_parent, qualifying_young_person, young_claimant, older_claimant, partner]
         savings: 32_000
   output:
-    household_uc_reported_capital: 8_000
+    household_uc_reported_financial_capital: 8_000
     household_uc_unreported_claimants: 3
     # 32,000 - 8,000 = 24,000 residual. Shares are 24,000 / 3 = 8,000
     # and 24,000 * 2/3 = 16,000. Previously [8,000, 0, 24,000].

{policyengine_uk-2.136.0 → policyengine_uk-2.136.1}/policyengine_uk/tests/policy/baseline/gov/dwp/lifetime_isa_capital.yaml

@@ -212,6 +212,9 @@
         members: [parent_1, parent_2, adult_child]
         savings: 9_000
   output:
+    # The complete override replaces the child's LISA and consumes £2,000
+    # from the household financial pool under the inherited convention.
+    # The unreported parents receive the remaining £7,000 financial proxy.
     uc_assessable_capital: [7_000, 2_000]
 
 - name: An adult child's Lifetime ISA counts in the child's Housing Benefit benunit only

policyengine_uk-2.136.1/policyengine_uk/tests/policy/baseline/gov/dwp/universal_credit/uc_property_capital.yaml

@@ -0,0 +1,125 @@
+- name: A financial zero does not exclude a countable second property
+  period: 2025
+  input:
+    people:
+      claimant:
+        age: 30
+        is_claimant_or_partner: true
+    benunits:
+      benunit:
+        members: [claimant]
+        would_claim_uc: true
+        benunit_reported_capital: 0
+    households:
+      household:
+        members: [claimant]
+        other_residential_property_value: 50_000
+  output:
+    uc_assessable_capital: 45_000
+    is_uc_eligible: false
+    universal_credit: 0
+
+- name: Financial observations and valued property enter separate capital pools
+  period: 2025
+  input:
+    people:
+      claimant:
+        age: 30
+        is_claimant_or_partner: true
+    benunits:
+      benunit:
+        members: [claimant]
+        would_claim_uc: true
+        benunit_reported_capital: 6_000
+    households:
+      household:
+        members: [claimant]
+        other_residential_property_value: 3_000
+        non_residential_property_value: 7_000
+  output:
+    uc_assessable_capital: 15_000
+    is_uc_eligible: true
+    uc_tariff_income: 1_879.2
+
+- name: An explicit complete capital override retains zero semantics
+  period: 2025
+  input:
+    people:
+      claimant:
+        age: 30
+        is_claimant_or_partner: true
+    benunits:
+      benunit:
+        members: [claimant]
+        would_claim_uc: true
+        benunit_reported_capital: 6_000
+        uc_reported_capital: 0
+    households:
+      household:
+        members: [claimant]
+        savings: 50_000
+        other_residential_property_value: 50_000
+  output:
+    uc_assessable_capital: 0
+    is_uc_eligible: true
+    uc_tariff_income: 0
+
+- name: A complete override consumes its amount from the household financial pool
+  period: 2026
+  input:
+    people:
+      claimant:
+        age: 30
+        is_claimant_or_partner: true
+      other_claimant:
+        age: 30
+        is_claimant_or_partner: true
+    benunits:
+      missing:
+        members: [claimant]
+        would_claim_uc: true
+      overridden:
+        members: [other_claimant]
+        would_claim_uc: true
+        uc_reported_capital: 6_000
+    households:
+      household:
+        members: [claimant, other_claimant]
+        savings: 12_000
+  output:
+    uc_assessable_capital: [6_000, 6_000]
+    uc_tariff_income: [0, 0]
+    universal_credit: [5_098.80, 5_098.80]
+
+- name: A complete override consumes its owner's company holding only once
+  period: 2026
+  input:
+    people:
+      owner:
+        age: 30
+        is_claimant_or_partner: true
+        stands_as_sole_owner_or_partner_of_company: true
+        owned_company_carries_on_property_business: true
+        owned_company_holding_value: 10_000
+        owned_company_capital: 0
+      other_claimant:
+        age: 30
+        is_claimant_or_partner: true
+    benunits:
+      overridden:
+        members: [owner]
+        would_claim_uc: true
+        uc_reported_capital: 10_000
+      missing:
+        members: [other_claimant]
+        would_claim_uc: true
+    households:
+      household:
+        members: [owner, other_claimant]
+        savings: 20_000
+        corporate_wealth: 10_000
+  output:
+    household_uc_reported_financial_capital: 10_000
+    household_uc_pool_company_holdings: 0
+    uc_assessable_capital: [0, 20_000]
+    universal_credit: [5_098.80, 0]

{policyengine_uk-2.136.0 → policyengine_uk-2.136.1}/policyengine_uk/tests/policy/baseline/household/wealth/benunit_reported_capital.yaml

@@ -1,12 +1,14 @@
 # benunit_reported_capital records the benefit unit's savings and investments
 # (-1 when nothing is recorded). Universal Credit (WRA 2012 s.5; UC Regulations
 # 2013 reg.18) and Pension Credit (SPCA 2002 s.5) assess the claimant's and
-# partner's capital together, so both programmes take the recorded figure in
-# place of the household capital proxy unless their own variable is set.
+# partner's capital together. UC replaces financial proxies with this
+# observation and counts property separately; uc_reported_capital remains a
+# separate complete override. Pension Credit continues to use the observation
+# in place of its whole capital proxy unless its own variable is set.
 # Tariff income: UC Regulations 2013 reg.72, 4.35 pounds a month for each 250
 # pounds or part above 6,000.
 
-- name: Recorded capital replaces the household proxy for both programmes.
+- name: Recorded financial capital replaces financial proxies for both programmes.
   period: 2025
   input:
     people:
@@ -21,7 +23,7 @@
         members: [claimant]
         savings: 50_000
   output:
-    uc_reported_capital: 2_000
+    uc_reported_capital: -1
     pension_credit_reported_capital: 2_000
     uc_assessable_capital: 2_000
     is_uc_eligible: true

{policyengine_uk-2.136.0 → policyengine_uk-2.136.1}/policyengine_uk/tests/test_benunit_reported_capital_properties.py

@@ -1,32 +1,33 @@
 """Properties of `benunit_reported_capital`, the benefit unit's recorded capital.
 
-A dataset records what it observes (the benefit unit's savings and
-investments, -1 when nothing is recorded), and each means test derives its
-own reported capital from it: `uc_reported_capital` and
-`pension_credit_reported_capital` default to it and can still be set directly.
+A dataset records financial capital (the benefit unit's savings and
+investments, -1 when nothing is recorded). Universal Credit replaces only
+financial proxies with that observation; `uc_reported_capital` is a separate
+complete override and defaults to -1. Pension Credit continues to derive
+`pension_credit_reported_capital` from the observation.
 
 Invariants, over generated households of one or two benefit units:
 
-1. Derivation: with only the recorded input set, both programmes' reported
-   capital equals it, -1 included.
-2. Differential: recording R once gives the same assessable capital, eligibility
-   and entitlement for Universal Credit and Pension Credit as setting R on both
-   programme variables directly, which is how they were supplied before the
-   input existed. With nothing recorded this is the old default (-1), so the
-   input changes nothing for data that do not supply it.
+1. Derivation: Pension Credit's reported capital equals the financial input,
+   -1 included. UC's complete override remains -1 without an explicit value.
+2. Differential: without property or person-level capital, a financial
+   observation gives the same assessment as explicitly setting that unit's
+   complete override too. Each unit consumes the same amount from the financial
+   pool in both cases, preserving the residual available to other units.
 3. Precedence: a programme variable set directly wins for that programme only.
-4. Override identity and bounds: a unit with recorded R >= 0 has Universal
-   Credit assessable capital R, whatever the household holds, and assessable
-   capital is never negative.
-5. Monotonicity: Universal Credit tariff income never falls, and eligibility and
-   the award never rise, as recorded capital rises.
+4. Financial identity and bounds: without property or person-level capital,
+   a unit with recorded R >= 0 has UC assessable capital R. Assessable capital
+   is never negative.
+5. Monotonicity: assessable capital never falls, and eligibility and the award
+   never rise, as recorded capital rises. Tariff income never falls while the
+   unit remains eligible; it is zero once the capital limit excludes the unit.
 6. Uprating: a dataset that stores the input, or either programme variable
    directly as datasets built before the input did, projects it to later years
    exactly as it projects `savings`.
 7. Periods: the input set for one year is uprated into later years. A
    programme variable set directly applies only to the years it is set, as for
-   any formula variable; later years derive from the input (intended: the
-   input carries the uprating).
+   any formula variable. Later years use the financial input, when present,
+   while the complete UC override returns to -1.
 """
 
 from pathlib import Path
@@ -135,7 +136,7 @@ def outputs(sim):
 
 @SETTINGS
 @given(households())
-def test_recorded_capital_is_equivalent_to_setting_each_programme(case):
+def test_financial_capital_matches_complete_override_without_nonfinancial_assets(case):
     units, household = case
     via_input = simulate(
         units,
@@ -145,15 +146,23 @@ def test_recorded_capital_is_equivalent_to_setting_each_programme(case):
     via_programmes = simulate(
         units,
         household,
-        [{v: u["recorded"] for v in PROGRAMME_VARIABLES} for u in units],
+        [
+            {
+                "benunit_reported_capital": u["recorded"],
+                **{v: u["recorded"] for v in PROGRAMME_VARIABLES},
+            }
+            for u in units
+        ],
     )
     a, b = outputs(via_input), outputs(via_programmes)
     for i, unit in enumerate(units):
-        for v in PROGRAMME_VARIABLES:
-            assert a[v][i] == unit["recorded"]
+        assert a["uc_reported_capital"][i] == -1
+        assert a["pension_credit_reported_capital"][i] == unit["recorded"]
         if unit["recorded"] >= 0:
             assert a["uc_assessable_capital"][i] == unit["recorded"]
     for v in OUTPUTS:
+        if v == "uc_reported_capital":
+            continue
         np.testing.assert_allclose(a[v], b[v], rtol=0, atol=1e-6, err_msg=v)
     for v in ["uc_assessable_capital", "pension_credit_assessable_capital"]:
         assert np.all(a[v] >= 0)
@@ -190,7 +199,9 @@ def test_uc_never_rises_with_recorded_capital(case, x, y):
         return outputs(simulate(units, household, inputs))
 
     lo, hi = run(low), run(high)
-    assert hi["uc_tariff_income"][0] >= lo["uc_tariff_income"][0]
+    assert hi["uc_assessable_capital"][0] >= lo["uc_assessable_capital"][0]
+    if hi["is_uc_eligible"][0]:
+        assert hi["uc_tariff_income"][0] >= lo["uc_tariff_income"][0]
     assert hi["is_uc_eligible"][0] <= lo["is_uc_eligible"][0]
     assert hi["universal_credit"][0] <= lo["universal_credit"][0] + 1e-6
 
@@ -249,7 +260,7 @@ def _dataset(benunit_columns, savings):
     )
 
 
-def test_stored_columns_project_like_savings():
+def test_stored_financial_observations_and_explicit_overrides_project_like_savings():
     recorded = [10_000.0, -1.0, 0.0]
     savings = [10_000.0, 20_000.0, 30_000.0]
     for columns in [
@@ -263,13 +274,33 @@ def test_stored_columns_project_like_savings():
             / sim.calculate("savings", 2025).values
         )
         assert np.all(growth > 1)
-        for name in PROGRAMME_VARIABLES:
+        projected_names = ["pension_credit_reported_capital"]
+        if "uc_reported_capital" in columns:
+            projected_names.append("uc_reported_capital")
+        else:
+            for year in [2025, 2027]:
+                np.testing.assert_array_equal(
+                    sim.calculate("uc_reported_capital", year).values,
+                    [-1, -1, -1],
+                )
+        for name in projected_names:
             first = sim.calculate(name, 2025).values
             later = sim.calculate(name, 2027).values
             np.testing.assert_array_equal(first, recorded)
             np.testing.assert_allclose(later, np.array(recorded) * growth, rtol=1e-6)
             # A stored -1 stays negative, so "nothing recorded" survives.
             assert later[1] < 0
+        expected_assessable = np.array([recorded[0], savings[1], recorded[2]])
+        np.testing.assert_allclose(
+            sim.calculate("uc_assessable_capital", 2025).values,
+            expected_assessable,
+            rtol=1e-6,
+        )
+        np.testing.assert_allclose(
+            sim.calculate("uc_assessable_capital", 2027).values,
+            expected_assessable * growth,
+            rtol=1e-6,
+        )
 
 
 def _single_adult(benunit_inputs):
@@ -288,8 +319,10 @@ def test_input_set_once_is_uprated_into_later_years():
         "gov.economic_assumptions.indices.obr.per_capita.gdp"
     )
     expected = 10_000 * index("2026-01-01") / index("2025-01-01")
-    for name in PROGRAMME_VARIABLES:
-        np.testing.assert_allclose(sim.calculate(name, 2026)[0], expected, rtol=1e-6)
+    assert sim.calculate("uc_reported_capital", 2026)[0] == -1
+    np.testing.assert_allclose(
+        sim.calculate("pension_credit_reported_capital", 2026)[0], expected, rtol=1e-6
+    )
     np.testing.assert_allclose(
         sim.calculate("uc_assessable_capital", 2026)[0], expected, rtol=1e-6
     )

{policyengine_uk-2.136.0 → policyengine_uk-2.136.1}/policyengine_uk/tests/test_stock_capital_periods.py

@@ -23,7 +23,7 @@ def test_uc_capital_stocks_are_not_prorated_in_monthly_calculations():
 
     assert simulation.calculate("savings", "2026-01")[0] == 12_000
     assert simulation.calculate("corporate_wealth", "2026-01")[0] == 12_000
-    assert simulation.calculate("uc_assessable_capital", "2026-01")[0] == 36_000
+    assert simulation.calculate("uc_assessable_capital", "2026-01")[0] == 34_800
     assert not simulation.calculate("is_uc_eligible", "2026-01")[0]