Paragraph 3 Calculation of the student’s residual incomeF1I1

any remuneration for work done during any academic year of the student’s course, provided that such remuneration does not include any sums paid in respect of any period for which he or she has leave of absence or is relieved of normal duties for the purpose of attending that course;

the gross amount of any premium or other sum paid by the student in relation to a pension (not being a pension payable under a policy of life assurance) in respect of which relief is given under section 273, 619 or 639 of the Income and Corporation Taxes Act 1988^f1 or under section 188 of the Finance Act 2004^f2, or where the student’s income is computed for the purpose of the income tax legislation of another Member State, the gross amount of any such premium or sum in respect of which relief would be given if that legislation made provision equivalent to the Income Tax Acts.

if the student purchases sterling with the income, the amount of sterling the student so receives; or

otherwise, the value of the sterling the income would purchase using the rate for the month in which it is received published by the Office for National Statistics^f3.