Paragraph 7
In calculating the capital of the person concerned:
there shall be left out of account the value of his household furniture and effects, of his clothes and of tools and implements of his trade;
the value of any interest in land shall be taken to be the amount for which that interest could be sold less the amount of any mortgage debt or hereditable security, subject to the following:
in calculating the value of his interests, the total amount to be deducted in respect of all mortgage debts or hereditable securities shall not exceed £100,000;
in making the deductions in sub-paragraph (i), any mortgage debt or hereditable security in respect of the main or only dwelling shall be deducted last; and
the first £100,000 of the value of his interest (if any) in the main or only dwelling in which he resides, after the application of sub-paragraphs (i) and (ii), shall be disregarded;
where the person concerned resides in more than one dwelling, the supplier shall decide which is the main dwelling; and
where the person concerned has living with him one or more of the following persons, namely, a partner whose resources are required to be aggregated with his, a dependent child or a dependent relative wholly or substantially maintained by him, a deduction shall be made of £335 in respect of the first person, £200 in respect of the second and £100 in respect of each further person.