4.—(1) ”Relevant income”, in relation to any applicant, means the sum of the applicant's—
(a)relevant employment income,
(b)relevant trading income, and
(c)relevant chargeable gains.
(2) “Relevant employment income” means employment income chargeable to income tax under Chapter 3 of Part 2 of the Income Tax (Earnings and Pensions) Act 2003(1) for the tax year immediately preceding that in which the application is made.
(3) “Relevant trading income” means the profits of a trade, profession or vocation chargeable to income tax under Chapter 2 of Part 2 of the Income Tax (Trading and Other Income) Act 2005(2) for the tax year immediately preceding that in which the application is made.
(4) “Relevant chargeable gains” means gains on which tax is chargeable in accordance with the Taxation of Chargeable Gains Act 1992(3) in the year of assessment immediately preceding that in which the application is made.
(5) For the purposes of calculating relevant employment income, relevant trading income and relevant chargeable gains in a case where the applicant was not at all material times resident, ordinarily resident and domiciled in the United Kingdom for the purposes of income tax and the taxation of chargeable gains, the applicant is to be treated as if he were so resident, ordinarily resident and domiciled.
1992 c. 12; section 2 is amended by the Finance Act 1998 (c. 36) Schedule 21, and the Finance Act 2002 (c. 23) Schedule 11.