Gross monthly income
12.—(1) “Gross monthly income” means the total sum of—
(a)the lower of—
(i)the gross amount that has been earned by the party in the month immediately preceding that in which the application for remission is made; or
(ii)the average of the gross amount that has been earned by the party in the three months immediately preceding that in which the application for remission is made, and
(b)the gross amount received by the party from any other source in the month immediately preceding that in which the application for remission is made, other than receipt of any excluded benefits.
(2) For the purposes of sub-paragraph (1), earnings from a trade, business or gainful occupation other than an occupation at a wage or salary are calculated as the lower of—
(a)the party’s net profits for the month preceding that in which the application for remission is made; or
(b)the average of the party’s net profits for the three months preceding that in which the application for remission is made.
(3) In sub-paragraph (2), “net profits” means the profits which have accrued to the party less all sums necessarily expended to earn those profits.