Financial Assessments
ListenWhat is a Financial Assessment?
If you have less than £23,250 in savings or capital, the Council needs information on your finances and expenses to work out your contribution for services.
The Council looks at the amount of money you receive each week and then compares this with the amount you have to spend. The Council takes into account benefits such as Attendance Allowance or Disability Living Allowance (care component), and then considers any other money you may have to spend because of your disability or condition.
The Council also considers your housing costs and Council Tax payments net of any Housing Benefit or Council Tax Benefit. This gives the Council a figure called ‘net assessable income’ which it uses to work out your contribution.
Why is a Financial Assessment needed?
The financial assessment is a means test, which gives the Council a fairer way to calculate what someone can afford to contribute based on a their ability to pay. The Government says that this is a fairer way to work out contribution rather than make the same contribution for everyone, without thinking about if a person can afford to pay or not.
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