Paragraph 17

Section 106 (cash equivalent: cost of accommodation over £75,000) is amended as follows.

In subsection (1), after “equivalent” insert “ or modified cash equivalent ”.

After subsection (2) insert—

“(2A)

To calculate the modified cash equivalent—

(a)

apply steps 1 to 3 in subsection (2), as if the words “cash equivalent” in step 1 were “modified cash equivalent (for the purposes of section 105)”;

(b)

calculate the modified cash equivalent by adding together the amounts calculated under steps 1 and 3 as applied by paragraph (a).”