Financial Assessment

A financial assessment is a calculation of what you can afford to pay towards your care.  This could be for help at home or for residential care.  A financial assessment is usually arranged after you’ve had an assessment of your Care and Support Needs and you are assessed as needing some care and support from (or on behalf of) the Council. Most people will pay something towards the cost of their care.

A financial assessment is a means test where the council looks at your income, capital and property to calculate how much you should be contributing towards the cost of your care and support.  If you have sufficient income/assets, you could pay the full cost of the care provided.  There is a maximum weekly charge for Non-Residential care, currently £100.00 per week.

If it is your preferred option not to give us details of your income and other assets or you refuse to provide information the Council may charge you the full cost of care provided.  There is a maximum weekly charge for Non-Residential care, currently £100.00 per week.

If you choose to declare your finances then you will be asked to complete and sign a financial assessment form and you will need to provide details of your income, capital and expenses. You will also need to provide proof of the information detailed on the form (e.g. bank statements, benefit notification letters); this will help us work out how much you can afford to pay towards your care.

We can help you complete the form if needed, this would normally be done over the phone but may involve a visit to your home or any other convenient place to complete the form with you and/or your representative.  Help and advice can also be given at the local HWB.

If you jointly own capital with another person, you and the other joint owner(s) are normally treated as having equal interests in that capital.

Some capital is disregarded; this includes up to the first £50,000 (for 2024/25) of your assets if you go into care home and up to the first £24,000 (for 2024/2025) if you receive non-residential care and support.  This amount is set by the Welsh Government each year.

We will review your financial assessment annually, unless there is a change in your circumstances, in which case we will the review the financial assessment sooner.  You should advise us if there are any change in your circumstances (e.g. if your capital goes above or below the capital threshold, if you receive any additional benefits/income, or if someone leaves a house that was previously disregarded from your financial assessment) as this could affect the amount you will pay towards your care and support.  Any change to your charge will be backdated to the date the change occurred.  

If you need care in order to stay in your own home, the financial assessment won’t include the value of the property that you live in but will include the value of any land or any other property you own.  Some of your income will be disregarded to allow you to meet your ‘ordinary living costs’.  For more information follow the above link.

If you need to move permanently into a care home, the financial assessment may include the value of your former main residence and will include the value of any land or any other property you own.  Some of your income will be disregarded to allow you to spend it on items not provided by the care home.  For more information follow the above link.