care fees & tax

Mark_Cooper

Hi, I am thinking of starting a petition to try and stop/ask the government to allow tax relief or exemption for 75 year

olds

and over who have to go into care homes.
It just seems so unfair that they have to pay £20,000 plus per year for fees and also have their money they have taxed.
I know nothing will come of this but it just p

---

me off

Coopes

dmg24

It may be a better idea to contact your MP to see if they will take up your concerns. They are likely to get a lot further than one of those silly petitions.

Mark_Cooper

Hi dmg24 Yeah I thought of that, I may just give him a call. Will let you know what happens

Mark

EdInvestor

One solution is to buy a "care annuity" to pay the fees. You pay a lump sum upfront to an insurance company which guarantees to pay an income for life, which is used to pay the care fees.If the money is paid direct to the care home, it is tax free.

Details plus more tips on care financing here:

https://www.hsbcpensions.co.uk/nhfa/pdfs/is6.pdf

Errata

Talk to Ivan Lewis, he's looking for people's opinions/suggestions.
Why over 75? Why not over 65?

Mark_Cooper

I picked 75 because my dad is that age an he is the youngest in the care home, most of the others are 75+ so picked the lowest age.
Erreta I have just emailed Ivan Lewis and the BBC will see what happens.

Mark

dmg24

Mark_Cooper wrote: »

I picked 75 because my dad is that age an he is the youngest in the care home, most of the others are 75+ so picked the lowest age.

Mark

My Mum works for a group of care homes - 75 is closer to the age of their eldest residents!

Mark_Cooper

wow that is young, like I said my dad is the youngest the oldest three are 102 x2 and one at 103 and still getting about.

Mark

dmg24

Is he in a residential home or a care home?

Mark_Cooper

It's a residential carehome.

Mark

dmg24

Mark_Cooper wrote: »

It's a residential carehome.

Mark

I should have used the word nursing rather than care, I am guessing that your father is not in a nursing home.

A nursing home will have a much wider range of ages, in some instances from 40's onwards.

I would be much more in support of there being tax breaks for those in nursing homes, as it is those that really have no choice where they live (in the majority of cases, they are there for clinical need).