We use cookies to allow us and selected partners to improve your experience and our advertising. By continuing to browse you consent to our use of cookies as per our policy which also explains how to change your preferences.

Close
Menu
Home care
Find out about care at home, adaptations and technology to help you to stay independent in your own home for longer.
Financing care
Learn about funding options for home care, home adaptations and care homes, together with Attendance Allowance, gifting assets and Power of Attorney.
Housing options
Consider your options and learn about sheltered housing, retirement villages and care homes.
End of life
Guidance to help you through the emotional and practical steps of losing a loved one, from coping with bereavement to arranging a funeral.

Financial assessment calculations for home care

The financial assessment undertaken by local authorities is governed by strict guidelines. We give you an overview of the most important elements.
2 min read
In this article
What’s included in a financial assessment for home care? What isn’t included

What’s included in a financial assessment for home care?

1

Your total capital

 

This is the amount of money you have, added together, minus any debts. Any joint accounts are generally treated as an equal split. This will include:

Checklist (ticks)
  • Bank and building society accounts
  • National Savings Certificates and Ulster Savings Certificate

  • Premium Bonds

  • Stocks and shares 

  • Shares in a family business 

  • Trust funds 

  • Regular savings and investments, including Isas 

  • Other properties you own.

2

Weekly personal pension

 

This means private and company pensions. If you have a spouse and a private pension, half of your pension can be passed over to your spouse and won’t be taken into consideration for the means test.

3

Weekly state benefits and pensions

 

The payments you receive from any benefits are also taken into consideration in a financial assessment, including the following:

Checklist (ticks)
4

Any other weekly income

 

This could include rental income.

Cost of care and eligibility in England
Use our simple tool to find out how much care might cost in England and what financial support is available.

What isn’t included

Among other things, the following won’t be included:

Checklist (crosses)

 

You should seek advice from an independent financial adviser (IFA), such as from a fully listed member of the Society of Later Life Advisers (SOLLA). This is especially the case if you have complex financial arrangements, such as money in trust, certain bonds or compensation payments, or shares in a family business.

 

Society of Later Life Advisers (SOLLA)

By choosing an accredited member of the Society, you can be assured of someone with the expertise to best understand your needs to provide advice that is right for you and your family.

societyoflaterlifeadvisers.co.uk

For advice and information, call:

0333 202 0454

 

For more guidance on finding an IFA, see how to find a financial adviser in Which? Money.

Further reading

Paying for home care

We explain the options for paying for care at home, from local authority support to paying for it yourself, known as ...

Domiciliary care fees

Find out about home care fees and how they can vary according to where you live in the UK, as well as the type of care ...

Last updated: 19 Sep 2018