22.—(1) Any income derived from capital to which the claimant is or is treated under regulation 117 (capital jointly held) as beneficially entitled but, subject to sub-paragraph (2), not income derived from capital disregarded under paragraph 1, 2, 4 to 8, 10 or 16 of Schedule 9.N.I.
(2) Income derived from capital disregarded under paragraph 2 or 4 to 8 of Schedule 9 but only to the extent of—
(a)any mortgage repayments made in respect of the premises or land in the period during which that income accrued; or
(b)any rates or water charges which the claimant is liable to pay in respect of the premises or land and which are paid in the period during which that income accrued.
(3) The definition of “water charges” in regulation 2(1) is to apply to sub-paragraph (2) with the omission of “in so far as such charges are in respect of the dwelling occupied as the home”.
(4) Where income is derived from conacre or agistment letting any expenses reasonably incurred thereon including the repayment of interest and capital on any loan used for the purchase of land under the Northern Ireland Land Act 1925(1).
Commencement Information
I1Sch. 8 para. 22 in operation at 27.10.2008, see reg. 1(1)