The allowable expenses when calculating your parent(s) or partner's residual income are:
- superannuation attracting tax relief (up to 15% of total gross income)
- retirement annuities (up to 17.5% of total gross income)
- loan interest (allowed for tax purposes + normally if the person is self-employed)
- professional subscriptions
- payments into a private pension scheme.
We may also take expenses such as stakeholder pensions into account as an expense if they are shown on your P60 or payslip etc.
Also, although domestic help is requested as an expense on the application, this is no longer taken into account in the assessment.