The amount of an award of universal credit is to be the balance of—
the maximum amount (see subsection (2)), less
the amounts to be deducted (see subsection (3)).
The maximum amount is the total of—
any amount included under section 9 (standard allowance),
any amount included under section 10 (responsibility for children and young persons),
any amount included under section 11 (housing costs), and
any amount included under section 12 (other particular needs or circumstances).
The amounts to be deducted are—
an amount in respect of earned income calculated in the prescribed manner (which may include multiplying some or all earned income by a prescribed percentage), and
an amount in respect of unearned income calculated in the prescribed manner (which may include multiplying some or all unearned income by a prescribed percentage).
In subsection (3)(a) and (b) the references to income are—
in the case of a single claimant, to income of the claimant, and
in the case of joint claimants, to combined income of the claimants.