Toggle menu

How does financial Assessment Work?

We need to know about your income and your capital before we can decide whether we can help towards the cost of any funded support you may need.


  • pensions
  • allowances like disability living allowance
  • attendance allowance
  • employment and support allowance

We will exclude your wages or salary.


By capital we mean any money you own and can access, or any property you don't occupy as your main residence. There are different rules for financial assessments for people who are living in their own home and those who stay in a care or residential home. 

  • savings 
  • ISAs 
  • property you don't live in
  • premium bonds
  • shares in companies

If your total savings are under £14,250 (Lower Capital Limit)

We will ignore your savings when we are assessing your finances. 

If your total savings are between £14,250 and £23,250

You will have to pay £1 a week for every £250 or part of £250 of your savings. This is called Tariff Income.

For example: If you have £15,000 capital, £14,250 is disregarded and tariff income of £3 per week is taken into account as income.

Tariff Income is meant to represent an amount that a resident with capital over a certain limit should be able to contribute towards accommodation costs, not the interest earning capacity of that capital. 

If your total savings are over £23,250 (Upper Capital Limit)

We will not be able to provide you with financial support for your care until your savings fall below £23,250.

You will be required to pay the full cost of your accommodation charges until your savings reach this amount. Once your savings approach this limit you will need to get in touch with the Contact Cares team on 01744 676767

Other considerations

If you are absent from your residential or nursing home for any period of time due to holiday or hospital stays, you will still be charged for your placement within the home.

If you have savings that you hold jointly with your partner, we will assume you have equal shares for the purpose of the assessment. 

If you don't want to have a financial assessment

If you don't want us to assess you based on your finances, we'll assume you're able to meet the full cost of any services you need without assistance from us. Non-residential charges can be found below; for residential care you will need to contact the care provider directly.

Share this page

Facebook icon Twitter icon email icon


print icon
Last modified on 10 July 2024