Although fostering is not about the money, having a high foster carer allowance we feel allows carers to do nice things with the children and give them an enjoyable life. That’s why our minimum allowance per child per week is £365. This fee then builds up over the years to £510. If the child is believed to be enhanced (learning difficulties or behavioral issues) the allowance may be increased.
You will be classed as self-employed and will need to submit a tax return each year to HMRC. The allowances are broken down into 2 key elements.
The cost of looking after the child – This will include food, clothing, utilities, transport costs, pocket money, holidays and activities.
Professional fee – This is the fee for the professionalism of a foster carer for doing the great work and giving the care and commitment to each child.
As a foster carer, you will get a weekly tax relief.
£375 per week for each child under 11 years old.
£450 per week for each child over 11 years old.
WILL I NEED TO PAY TAX?
Whether you pay tax will depend on several factors:
- How many children you foster
- If the child has additional needs or requirements
In general, If you are caring for one child and have no other source of income, you should be exempt from paying any tax at all.
GET IN TOUCH
County Fostering Services Ltd
Flexspace, Unit 22
4 Summerhouse Road
Moulton Park
Northampton
NN3 6BJ
County Fostering Services Ltd
Flexspace, Unit 22
4 Summerhouse Road
Moulton Park
Northampton
NN3 6BJ