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Luton Borough Council

Your financial assessment


How can I get care and support?

This in-depth look at your money will let us work out if, and how much you will be expected to contribute towards the cost of your care.

After you have had your assessment of care needs and we have decided with you on the level of care you need, we need to give you a financial assessment to find out if, or how much, you will have to pay towards these services. At the same time we will also check to make sure you are receiving all the available benefits.

The online self-assessment also has a financial assessment. This is a quick and easy way to find out if you might have to contribute to the cost of your care.

What information will I need to give?

You will need to fill in a form giving us in-depth look at all the money and assets that you have. You will be told which documents you need to provide.

How does the financial assessment work?

The calculations are complex, but as an overview we will be giving you a means-tested assessment based on your capital, income and disability-related expenditure.

We follow the rules set out by the government, which ensures that everyone throughout England is assessed the same way.

What is the difference between capital and income?

As a rough guide: income is what you receive, through work and benefits; capital is any money you have saved plus any assets that you own.

Does my house count as capital?

For residential care services (such as if you are moving into a care home):
If you are moving permanently into a care home, the value of your property may be included as a capital asset. If your stay is only expected to be temporary the value of the property you occupy, as your main residence will usually be disregarded.

For non-residential care services (such as attending a day centre):
Your home is not included. But any second property that you own will be included.

Will you include my partner’s money?

Your financial assessment will only look at the money that is yours, not money belonging to your husband, wife, or civil partner.

If you have joint capital or income, such as a shared bank account, we will treat it as if you have an equal share, and look at your share only – unless you have proof that it is not an equal share.

How much capital can I have before I have to pay for all my care?

The government has currently set this amount at £23,250.

  • If you have over £23,250 in capital

If you have over £23,250 in capital (or your share of joint capital is over £23,250) you will be expected to pay in full for your own care. We call these people ‘self funders’.

Follow this link to find out more about being a self funder and learn how you may still be able to benefit from council-commissioned care

  • If you have under £23,250 in capital

If you have less than £23,250 (or your share of joint capital is less than £23,250) you will be able to receive council-funded care (provided you have already satisfied our eligibility criteria).

The financial assessment will determine exactly how much you will have to contribute.

Can I give my capital away as gifts to my family and friends first, so it isn’t assessed?

If you deliberately give away your capital with the intention of reducing your care charges, we can financially assess you as still owning that capital.

Follow this link to read more about this from Age UK.

What if my circumstances change?

We will conduct an annual review in line with benefit changes every April, but if your circumstances change before your review, please let us know. We may have to give you a full, or a part, re-assessment.

Can I get help understanding the calculations?

Yes. As part of the financial assessment we’ll help you to understand the calculations and how they affect your own personal financial situation.

Planning ahead for long-term care costs or working out the best option can be daunting, so you may also want to seek independent financial advice.

Follow this link to find out more about independent financial advice.

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