Is anyone else a Receiver? A new fee has been introduced this year. This time for checking over the Accounts that Receivers prepare each year. In my case Mums accounts are very simple - pension, attendance allowance, interest from the compulsary Special Account the COP set up with proceeds from sale of Mums house in - then - nursing home fees, extras (chiropody, hair etc) , income tax out. For checking my accounts the COP charge £95 . They would also charge to do this even if the Receiver employed an Accountant to do it (so Receiver would be paying out twice) This is on top of their annual Administration Fee of £250 - What do they do for the £250 ??????
Mum is in her 7th year at a care home - we were paying £450 per year for Administation fee for years before COP were investigated and orderered to reduce their fees. They are now creeping up again and now introducing new fees - WHERE WILL IT END? If only we'd taken out an EPA all this hassle and asset stripping by a government body would have been avoided.
On a positive note however - the interest on the Special Account has always been very good - and as it happens, if we'd had the worry of investing Mums money ourselves (from sale of house) the overall financial picture would be about the same !!!!
Mum is in her 7th year at a care home - we were paying £450 per year for Administation fee for years before COP were investigated and orderered to reduce their fees. They are now creeping up again and now introducing new fees - WHERE WILL IT END? If only we'd taken out an EPA all this hassle and asset stripping by a government body would have been avoided.
On a positive note however - the interest on the Special Account has always been very good - and as it happens, if we'd had the worry of investing Mums money ourselves (from sale of house) the overall financial picture would be about the same !!!!
