25.—(1) Regulation 25 of the Disability Working Allowance Regulations (calculation of net profit of self-employed earners)(1) shall be amended in accordance with the following provisions of this regulation.
(2) For the words “one half of any premium paid in respect of a retirement annuity contract or a personal pension scheme” in each place in the regulation where they occur there shall be substituted the words “one-half of the amount in respect of any qualifying premium calculated in accordance with paragraph (15)”.
(3) In paragraph (14) for the words “In this regulation” there shall be substituted the words—
“In this regulation—
“qualifying premium” means any premium which at the date of claim is payable periodically in respect of a retirement annuity contract or a personal pension scheme;
(4) After paragraph (14) there shall be added the following paragraph—
“(15) The amount in respect of any qualifying premium shall be calculated by multiplying the daily amount of the qualifying premium by the number equal to the number of days in the assessment period; and for the purposes of this regulation the daily amount of the qualifying premium shall be determined—
(a)where the qualifying premium is payable monthly, by multiplying the amount of the qualifying premium by 12 and dividing the product by 365;
(b)in any other case, by dividing the amount of the qualifying premium by the number equal to the number of days in the period to which the qualifying premium relates.”.
Relevant amending instrument is S.I.1993/2119.