Paragraph 16
Any income derived from capital to which the claimant is, or is treated under regulation 39 (capital jointly held) as, beneficially entitled but, subject to sub-paragraphs (2) and (3), not income derived from capital disregarded under paragraph 1, 2, 4, 6, 13 or 26 to 30 of Schedule 4.
Income derived from capital disregarded under paragraph 2, 4 or 26 to 30 of Schedule 4 but, subject to sub-paragraph (3), only to the extent of any mortgage repayments and payments of rates made in respect of the premises or land in the period during which that income accrued.
Where income is derived from conacre or agistment letting any expenses reasonably incurred therein including the repayment of interest and capital on any loan used for the purchase of land under the Northern Ireland Land Act 1925f1.
Annotations
Footnotes
- f1