Where an applicant is in receipt of widowed parent’s allowance, notwithstanding F10paragraph (1)(b)(vi), £15 is to be disregarded from the applicant’s weekly unearned income.

Except in a case which falls under paragraph 15(1) of schedule 3, there is to be disregarded where the applicant is a person who satisfies any of the conditions in paragraph 15(2) of that schedule any amount of working tax credit up to £17.10.

Retirement pension income includes any increase in a Category A or Category B retirement pension mentioned in section 16(1)(a) of the State Pension Credit Act 2002 which is payable under Part 4 of the 1992 Act in respect of an applicant’s partner.

Where an applicant has a student loan or a postgraduate master’s degree loan, their student income for any assessment period referred to in paragraph (1) is to be based on the amount of that loan.

Where paragraph (2) does not apply, the applicant’s student income for any assessment period in which they are treated as having that income is to be based on the amount of their grant.

For the purposes of paragraph (1), an applicant is to be treated as having a student loan or a postgraduate master’s degree loan where the applicant could acquire a student loan or a postgraduate master’s degree loan by taking reasonable steps to do so.

Student income does not include any payment referred to in regulation 57(1)(g).

Where, in accordance with regulation 59(1) or regulation 59(5), as the case may be, an applicant’s student income is to be based on the amount of a student loan for a year, the amount to be taken into account is the maximum student loan (including any increases for additional weeks) that the applicant would be able to acquire in respect of that year by taking reasonable steps to do so.

Where, in accordance with regulation 59(2) or 59(5), as the case may be, an applicant’s student income is to be based on the amount of a postgraduate master’s degree loan for a year, the amount to be taken into account is 30 per cent of the maximum postgraduate master’s degree loan that the applicant would be able to acquire by taking reasonable steps to do so.

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).

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.

Where an applicant has an award of universal credit, an applicant’s unearned income is to be calculated as a monthly amount.

Where the period in respect of which unearned income is paid begins or ends (but does not begin and end) during an assessment period the amount of unearned income for that assessment period is to be calculated as follows—

$$\text{N}\times \left(M\times 12/365\right)$$

where N is the number of days in respect of which unearned income is paid that fall within the assessment period and M is the monthly amount referred to in paragraph (1) or, as the case may be, the monthly equivalent referred to in paragraph (2).

This regulation does not apply to student income.

If unearned income would be available to an applicant upon the making of an application for it, the applicant is to be treated as having that unearned income.

Paragraph (1) does not apply to the benefits listed in regulation 57(1)(b).

An applicant who has reached pensionable age is to be treated as possessing the amount of any retirement pension income for which no application has been made and to which the applicant might expect to be entitled if a claim were made.