PART 6 U.K.CALCULATION OF CAPITAL AND INCOME

CHAPTER 3U.K.UNEARNED INCOME

Calculation of student income - amount for an assessment periodU.K.

71.  The amount of a person's student income in relation to each assessment period in which the person is to be treated as having student income in accordance with regulation 68(1) is calculated as follows.

Step 1

Determine whichever of the following amounts is applicable—

(a)[F1in so far as regulation 68(2) applies to a person with a student loan,] the amount of the loan (and, if applicable, the amount of any grant) in relation to the year of the course in which the assessment period falls; F2...

[F3(aa)in so far as regulation 68(2) applies to a person with a postgraduate F4... loan, 30 per cent. of the amount of the loan in relation to the year of the course in which the assessment period falls; or]

(b)if regulation 68(4) applies (person with a grant but no student loan [F5or postgraduate F4... loan]) the amount of the grant in relation to the year of the course in which the assessment period falls.

But if the period of the course is less than a year determine the amount of the grant or loan in relation to the course.

Step 2

Determine in relation to—

(a)the year of the course in which the assessment period falls; or

(b)if the period of the course is less than a year, the period of the course,

the number of assessment periods for which the person is to be treated as having student income under regulation 68(1).

Step 3

Divide the amount produced by step 1 by the number of assessment periods produced by step 2.

Step 4

Deduct £110.

Textual Amendments