To check if you need additional support for your dependants, we must calculate their residual income.
To calculate your dependant's residual income, we'll deduct certain expenses from their taxable income in the previous financial year.
Your own estimated income during the academic year may also be included in the assessment.
The allowable expenses that may be deducted from the taxable income are:
- Income Tax
- National Insurance
- personal or employee pension contributions
- mortgage or rent payments
- life assurance
- maintenance
We'll also deduct a standard disregard per dependant from the total taxable income.
Any remaining income will be deducted from your Dependants Allowance entitlement.
The entitlement is calculated based on the number of dependants you have.
If the residual income is more than the possible entitlement, you'll not be awarded any Dependants Allowance.