Summary
The Financial Information section is divided into different sections - the first for you as the student, and subsequent sections for your spouse, partner, parents (whichever are applicable).
Each section is further divided into
- Income Details
- Expense Details
- Supporting Evidence
All questions in all sections will need to be completed and supporting evidence attached.
If you don't have an income or expense when asked in the following questions, please enter £0 - you will be unable to submit your application is a field is left blank.
Income Details
Income from your Employer
Please enter your most recent financial year’s income from any employment (salary/wages etc). This figure can be found on your P60 or March payslip.
Any Income from your Self Employment (Before Tax)
Please enter your most recent financial year’s income from self employment or Company Directorship. This will be the figure declared on the Self Assessment Tax Return submitted to HMRC.
Pension (Before Tax)
Please enter your most recent financial year’s income from pensions (state pension, private pension, employee pension etc).
Bank / Building Society Interest (After Tax)
Please enter your most recent financial year’s income from bank or building society interest inclusive of tax. Exclude details of any tax free interest, such as ISAs.
Profit from Lettings or Lodgings (After Tax)
Please enter your most recent financial year’s income from land, property or furnished lettings.
This will be the figure declared on the Self Assessment Tax Return submitted to HMRC.
Other Unearned Income (After Tax)
Please enter any other unearned income from the most recent financial year, inclusive of tax (dividends, shares etc).
Please enter the gross figure, that is before the deduction of any income tax or NI.
Taxable Benefits
Please enter your most recent financial year’s income from taxable benefits (Jobseekers Allowance, Incapacity Benefit etc). Please note that Child Benefit and Working Tax Credits are not taxable (a full list of taxable and non taxable benefits is available on the HMRC website).
Trust Fund Income (Before Tax)
Please enter your most recent financial year’s income from trust funds.
Expenses Details
Income Tax from Employment and/or Pensions
Please enter your expenses from income tax in the most recent financial year.
National Insurance Contributions
Please enter your expenses from National Insurance contributions in the most recent financial year.
Employee Pension Contributions
Please enter your employee pension contribution expenses, if applicable, from the most recent financial year.
Personal Pension / Retirement Annuity Payments
Please enter your most recent financial year’s expenses from personal pension/retirement annuity payments. Please note that these must attract tax relief or you should not include them.
Life Assurance Premiums
Please enter your expenses from life assurance premiums in the most recent financial year.
If this is a joint policy with the student (and only if the student has declared some of their own income in their section of the application), please enter half of the expense here and the other half in their section.
If they haven’t declared any income, please enter the whole expense here.
Mortgage Payments
Please enter your expenses from mortgage payments in the most recent financial year.
If this is a joint expense with your spouse, partner or civil partner who you will be applying for Dependants’ Allowance for, please enter the full amount of the expense here and the same full amount in their section
Rent
Please enter your expenses from rent payments in the most recent financial year.
If this is a joint expense with your spouse, partner or civil partner who you will be applying for Dependants’ Allowance for, please enter the full amount of the expense here and the same full amount in their section.
Wages for Domestic Help
Please enter the amount of wages you have paid for domestic help for assistance resulting from the care of a member of the household with a disability or illness, in the most recent financial year.
Other Dependant Children
Under the Parent financial information tab, if you have added a number of children also dependent on the parent in the estimating stage you'll have a section to complete relating to your sibling including their Name, Date of Birth, if they are in Full-Time education or not, which Education Establishment (if in one) and Funding Authority (if in Higher Education)
You'll also be required to upload Birth Certificates, ID Document and Student Finance Letters relating to those siblings.
If this section has been added in error, click the red bin icon in the top right of the section to delete it.
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