Limiting tax payable on rental income

John_Pierpoint

It makes my head hurt too.

Solicitors tend to be good on law, ok on tax, flaky on benefits and have no knowledge of how an individual local authority provides care.
There is no real substitute for meeting someone who knows the ropes locally, having learned the hard way.

Statistically (these figures are debatable but I'm sure I got them from an Age Concern spokesman):
In the twilight of our lives about one man in 5 and one woman in 3 will need personal care of some sort on a daily basis.

In the London Area expect to pay 100 a day for 24/7 care in the home or at a decent care home. The state will provide an attendance allowance and some other benefit in addition to the existing State pension entitlement.
You must live somewhere else in the country as 100K is more like the price of a garage in West London.

The main problem is you have no idea of the length of the commitment - dementia means you really have drawn the short straw.

I don't think this is the thread for a full scale debate of care of the elderly - but I will leave the last word to my late mother discussing her 24/7 home care arrangements with my sister:

"You know he is spending all my money".

superpup

Her house is in the Midlands. Lots of houses less than that up there.

She doesn't have dementia. I'm aware of what the future could hold. My Grandfather had dementia and my Nan looked after him except for the last few months and that was only because she wasn't physically strong enough.

If I did need help, which I'm hoping I won't, it would only be to give me a few hours break to recharge my batteries.

Anyway, as this has gone way OT, I will spend my time constructively and find myself a solicitor.

Thanks for your comments.