Regulation 15 Income not to exceed a certain level

A person is treated as meeting the condition of eligibility in section 10 (the income of the person and his or her partner must not exceed limit) if the person does not expect F1their adjusted net income to exceed £100,000 for the relevant tax year.

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A resident of F4a prescribed state who is in paid work in the United Kingdom is treated as meeting the condition of eligibility in section 10 if that person would not expect F5their hypothetical adjusted net income to exceed £100,000 for the relevant tax year.

A person is treated as not meeting the condition of eligibility in section 10 if—

In this regulation—

• F6“adjusted net income” has the meaning given in section 58(1) of the Income Tax Act 2007;

• F7...

• F8...

• “hypothetical adjusted net income” is the amount that would be that individual’s adjusted net income if that individual’s income tax liability were calculated on the basis that the individual—

  1. (a)

     was UK resident for the tax year concerned (and the year was not a split year);

  2. (b)

     was domiciled in the United Kingdom for that tax year;

  3. (c)

     in that tax year, did not fall to be regarded as resident in a country outside the United Kingdom for the purposes of double taxation arrangements having effect at the time;

  4. (d)

     for that tax year, had made a claim for any available relief under section 6 of the Taxation (International and Other Provisions) Act 2010 (as required by subsection (6) of that section).

• An individual’s adjusted hypothetical net income for a tax year is, to the extent that it is not sterling, to be calculated by reference to the average exchange rate for the year ending on 31 March in the tax year concerned;

• “the relevant tax year” has the meaning given in section 10(5).