PART 6CALCULATION OF CAPITAL AND INCOME
CHAPTER 3UNEARNED INCOME
Calculation of student income – amount for an assessment period71
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
F3aa
in so far as regulation 68(2) applies to a person with a postgraduate 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 F4or postgraduate loan ) the amount of the grant in relation to the year of the course in which the assessment period falls.
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—
c
the year of the course in which the assessment period falls, or
d
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.