Amount of contribution
62.—(1) The amount of the contribution payable on a fee under regulation 60 is the sum of—
(a)the personal benefits contribution, and
(b)the dependants’ benefits contribution.
(2) The amount of the personal benefits contribution is the amount of the fee multiplied by the percentage specified in column 2 of the table in regulation 63 for the relevant fee year, in the row relating to P’s annualised fees for that year.
(3) The amount of the dependants’ benefits contribution is the amount of the fee multiplied by the percentage specified in column 3 of the same row of the same table.
(4) P’s annualised fees for the relevant fee year are determined in accordance with the following formula—
where—
F is the amount of the fee;
N is the number of days in the applicable payment period.
(5) For the purposes of paragraph (4) the “applicable payment period” means—
(a)where the qualifying fee-paid day in respect of which the fee is paid is the first qualifying fee-paid day to occur in the relevant fee year, the period—
(i)beginning with the first day of the relevant fee year, and
(ii)ending with the day before the qualifying fee-paid day;
(b)where the qualifying fee-paid day in respect of which the fee is paid is the second, or a later, qualifying fee-paid day to occur in the relevant fee year, the period—
(i)beginning with the most recent previous qualifying fee-paid day, and
(ii)ending with the day before the qualifying fee-paid day.
(6) If the relevant fee year is a leap year, the formula in paragraph (4) has effect as if for “365” there were substituted “366”.
(7) In this regulation “the relevant fee year” means the fee year in which the qualifying fee-paid day in respect of which the fee is paid falls.