Government scraps cap on care costs to help tackle spending ‘black hole’

[FiddlyDiddlyDee]

"The social care plan would have introduced an £86,000 cap on the amount an older or disabled person would have to pay towards their support at home or in care homes from next October.

After spending £86,000 on their care, people with a high level of need would have had their care costs paid for by local authorities."

My take on scrapping this is that it looks like another move that's punitive to the lower middle class. Many of the lower middle will burn through everything they've got in short order and leave nothing to their struggling children that need it.

The tip of the iceberg I'm afraid. The elderly and ill will be huge targets for Labour.

The only assets that are “geographically bound” though are land and buildings. These are already taxed. By the way there is now a very complicated system of tax for housing owned by companies. It’s not easy to avoid tax on housing in the uk.

the issue with this is the reason land and buildings are worth a lot of money in some places is because of the advantages of living there. It’s not that land in London has some massive intrinsic value- it’s because of the opportunities available in London partly because it’s such a business friendly city with wealthy people. If you take those away, the houses become worth what they are in other uk cities.

as I said wealth taxes have failed everywhere they’ve been tried

just annoyed because im a wealthy person telling you we really not the amazing wealth creators you've been conned into believing

So was your concern for the struggling children in your OP false?

why would it be false?

Lol - the Shipley code is for corporation tax not personal tax. And it doesn’t collect it automatically.

need to work on your scenario for next time

yes hence why i just said business site didn't realise we were talking about paying personal tax through my business, and yes you can set up a direct debit, you're getting more absurd

https://www.gov.uk/pay-corporation-tax/direct-debit

Another outmatched troll

More Tory propaganda

Just this week reports have been published preparing for wealth taxes

Armchair experts putting the wealthy on strange pedestals again

Lol - op thinks those with assets should pay for her care with a wealth tax so she can keep her own money. When we pointed out it wouldn’t work- op claims she is incredibly wealthy but doesn’t pay any tax with made up stories. But is apparently still outraged that she has to pay for her own care home.

Honestly, having helped older relatives,if you can afford to pay for care you Will almost always get a much much better standard of care. I am quite happy to pay if the time comes.

Here's some maths for you.

I have 200 grand aged 75. and I've just got a dementia diagnosis. I probably am going to have to spend 200k on care for myself.

So as soon as I get the diagnosis, I go and put my 200k on a roulette wheel.

I lose the taxpayer pays for my care, nobody is going to put me on the streets.

I win I get 200 grand to leave to my children

Either way it's a no lose free taxpayer bet.

Alternatively a cap of 86k means the taxpayer is going to save 86k

It's really not difficult to get your head around

yeah except we were talking about personal tax and your alleged investments in EIS to avoid income tax.

so enough. This is just silly now. I don’t believe the state should pay for rich people’s care.

What a load of nonsense. You even claimed corp tax can't be automatically collected you're that stupid

Rest of the profits in EIS means company profits for the hard of understanding of what an investment business is

Just trolling and insulting because you're two sandwiches short of a picnic

If you’ve got £200k aged 75 you can’t reasonably expect to leave an awful lot to your kids. Even without care home fees if you live another 10 years (what’s average life expectancy 86??) you’ll not have much change. Realistically with £200k you’re not going to be paying much towards your own care.

Just trolling and insulting because you're two sandwiches short of a picnic

Pot, kettle.

There's this thing called a pension which people live off

So give them £200k now and hope to live 7 years?

Honestly where are they coming from. This one doesn't even know what a pension is.
😂

Sorry OP I must have missed the information pack handed out at the start of this exam.

I have 200 grand aged 75. and I've just got a dementia diagnosis. I probably am going to have to spend 200k on care for myself.

"So give them £200k now and hope to live 7 years?"

😂

Dementia doesn’t kill you OP. My Grandad lived 12 years after his diagnosis.

7 years was a reference to IHT.

I’m sorry for your dementia diagnoses. I can see why you might be in a bad mood.

Dear oh dear, you think I'm the one with dementia?

No sorry dear, you can't give away your money like that, there's a law against it when it comes to avoiding paying for your own care and they'd take it back off the person you gave it to

You can however, go and put it all on a roulette wheel. Which makes sense if it's only going to pay for care anyway.

Theres rules about moving abroad and then coming back for care or NHS treatment too but you don’t seem concerned about those.

@FiddlyDiddlyDee Okay. I'll bite. You're an obnoxious cunt winding people up for pleasure. Fuck off! I 😂

I feel like @FiddlyDiddlyDee hasn't a single clue how it all works with funding elderly care and leaving the country/selling all their stuff/pensions actually work.
I'd suggest they talk to an accountant before making any crazy moves, otherwise they may find themselves in trouble.
If seven years have passed since a gift was made there is no IHT, whatever the situation.
If however you have ring fenced your money/made a trust/moved the asset to a husband or wife then you may well have to surrender that asset.
Obviously if you put your last £200K ( wow you are rich going into retirement with a £200K pot) on a roulette wheel, then yes, those of us who pay tax and most of us who gamble also do this! will pay for your care.

Yes, thank you. Inheritance is what is left over, it's not a right and the money should be spent on the person who actually earned it first, no?