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Last updated 18/08/10

 
TARIFF INCOME

Under the current rules for the calculation of tariff income when funded by Social Services, the table below details the weekly amount payable based on the value of an individual’s assets in England and Northern Ireland.

Capital
Amount
Capital
Amount
Capital
Amount
Up to
18,000
£16
22,500
£34
         14,250.01           £1        18,500
£18
23,000
£36
14,500
£2
19,000
£20
23,250.01
self funded
15,000
£4
19,500
£22
Above £23,250 does not
qualify for State funding support
15,500
£6
20,000
£24
16,000
£8
20,500
£26
16,500
£10
21,000
£28
17,000
£12
21,500
£30
17,500
£14
22,000
£32

In order to provide an income of £36 per week from capital of £9,000 (i.e £23,250 less £14,250) would require a net investment return of over 20% per annum!

This is clearly significantly above the rates of return which can be expected on a regular and consistent basis and therefore erosion of capital will occur in meeting this requirement.

CareAware would strongly recommend that specialist advice is taken to minimise the effect of this situation.

Rates for Scotland will differ due to the different upper and lower capital limits and Wales operates a single limit of £22,000.

Contact details of specialist advice
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