If you are 16 or over and you look after a relative, friend or neighbour who is disabled or ill, you may be able to claim carer's allowance. It is important to check out the current rules and requirements on the official government website, but websites of support organisations such as charities may also have useful advice. As of 2014, the basic requirements are to spend at least 35 hours caring for someone else who is not a child, to earn less than £100 per week, and to live in the UK. You must complete the appropriate form, preferably online, including all personal details for you and the person for whom you care. Details of a valid bank account are also requiredContinue Reading
Keep in mind that not every carer can claim Carer's Allowance. Make sure you know the rules which apply to the carer and to the individual being cared for. Become familiar with rules regarding Income Support, Severe Disablement Allowance, and Employment and Support Allowance.
Spend at least 35 hours a week caring for the disabled or ill person. Provide proof that you have lived in Great Britain for two of the last three years. Be sure you are in Great Britain when you apply for Care Allowance and that your net income is not more than £100 per week. Don't apply if you are on a full-time education.
Verify that the person you're caring for is receiving the benefit they are entitled to because they need care.
Make sure you provide a bank account, National Savings account, building society account, or Post Office account where your payment can be sent.
Complete a claim form, or have someone complete one on your behalf. Contact the Carer's Allowance Unit to get a claim form. Visit GOV.UK to download one. Download a claim form from the nidirect website if you live in Northern Ireland.
Tell the Carer's Allowance Unit if circumstances change, as it may affect the amount you are paid.
Carer's Allowance is taxable, according to Carers UK. Based on information provided by the organization, carers will only be obligated to pay tax on the sum if they have additional sources of income that are taxable, such as an occupational pension or earnings.Full Answer >
Planning for businesses provides several crucial benefits, such as financial planning, setting goals and objectives, and identifying areas of strength and weaknesses. Business plans help all companies plan for the future by taking into consideration short-term and long-term goals, such as projected revenue and ideal sales volumes. Planning also allows companies to examine the resources they have, including personnel and finances, and how to use those resources to meet certain goals.Full Answer >
Benefits of using life insurance as a retirement savings plan include the ability to grow tax-deferred cash value and take out loans against the policy, reports U.S. News & World Report. Older policies may earn enough dividends to pay the premiums, so cash value continues to grow without further investment. However, 401(k) plans and IRAs grow tax-deferred cash value as well, and these plans are less costly to fund and maintain than life insurance policies, points out CNN Money.Full Answer >
Although there are hundreds of financial assistance programs for seniors, some of the most popular ones include LIHEAP, SNAP and AARP. Seniors should research financial assistance companies based on individual needs.Full Answer >