SCHEDULE 3Calculation of income
PART 4Residual income
CHAPTER 2Residual income of persons other than an eligible student
Deductions for the purpose of calculating residual income of persons other than eligible student
15.
(1)
For the purposes of calculating P's residual income, the deductions are— Deduction A The gross amount of any premium or sum paid by P in respect of a pension during the applicable financial year, in relation to which—
(a)
relief is given under section 188 of the Finance Act 2004, or
(b)
where P's income is computed for the purposes of the income tax legislation of F1a member State, relief would be given if that legislation made provision equivalent to the Income Tax Acts,
but not including any sum paid as a premium under a policy of life assurance. Deduction B Where paragraph 18 applies, a sum equivalent to Deduction A provided that this sum does not exceed the deductions which would be made if the whole of P's income were in fact income for the purposes of the Income Tax Acts. Deduction C £1,130, where P—
(a)
is an eligible student in respect of the current academic year but is also the parent of an eligible student, or
(b)
holds a statutory award in respect of the same period.