PART 6Assessment of household income and capital
CHAPTER 4Unearned income
Assumed yield from capitalI163
1
An applicant’s capital is to be treated as yielding—
a
a monthly income of £4.35 for each £250 in excess of £6,000 and £4.35 for any excess which is not a complete £250, or
b
a weekly income of £1 for each £250 in excess of £6,000 and £1 for any excess which is not a complete £250.
2
Paragraph (1) does not apply where the capital is disregarded or the actual income from that capital is taken into account under regulation 57(1)(j) (income from an annuity) or 57(1)(k) (income from a trust).
3
Where an applicant’s capital is treated as yielding income, any actual income derived from that capital, for example rental, interest or dividends, is to be treated as part of the applicant’s capital from the day it is due to be paid to the applicant.