Care Fee Loans – Government Deceit!
As part of the Governments plans to “help” those in need of Long Term Care, they are proposing to get rid of the current interest free loan system.
It will be replaced with a system where the Government, in their infinite generosity, are going to force people to pay interest on the loans, so that their capital is gradually eaten up not only by the increasing loan, but by the interest on the loan.
The PR spin on this is that it is an improvement, believe it or not! We don’t think “spin” is the appropriate word for such deceit.
Community Care Tax is a 100% tax on assets over £14,500 odd, whereas Inheritance Tax is a very easily avoidable 40% tax over £650,000 for a couple or £325,000 for a single person.
Many people worry about Inheritance Tax, but it is Community Care Tax which will disinherit their families.