SCHEDULES

SCHEDULE 3 E+W Calculation of income

PART 4 E+W Residual income

CHAPTER 2 E+W Residual income of persons other than an eligible student

Calculation of residual income of persons other than eligible student E+W

14.  P's residual income is calculated as follows—

• P's taxable income for the applicable financial year.

• Plus

• Income payable to P under a pension arrangements order during the applicable financial year, net of income tax.

• Minus

• The aggregate of the deductions set out in paragraph 15 (unless already deducted for the purposes of determining P's taxable income).

Commencement Information

I1 Sch. 3 para. 14 in force at 27.5.2019, see reg. 1(2)