Money & Finance
Fostering payments are there to help with the costs of caring for a child and also in recognition of the work our foster carers do every day.
“What’s the difference between fostering fees and allowances?”
Fostering payments are sometimes referred to as fees or allowances but there is a difference…
An allowance is the sum that’s paid to our foster carers to help towards the cost of food, clothing, everyday travel and household bills for the child placed with you. The fostering fee is the reward element of the payment recognising foster care as a valued and respected career.
“How much fostering payment will I receive?”
The allowance paid per annum ranges from £16,900 for a small child aged 0-4, up to £22,360 for a young person 16-18 years old
Sometimes this may be more for children with challenging behaviour or special needs. In short, the amount of financial support offered to foster carers varies depending on the placement. Individual placement fees can vary on the extent of support which is needed and this is negotiated with the Local Authority.
“Are Foster Carers entitled to any Tax relief?”
Foster carers are classed as self-employed but receive very favourable tax relief, meaning that they often pay very little (if any) tax. We will advise and support you on this issue.
To find out more information you can visit the Gov.uk website on https://www.gov.uk/foster-carers/help-with-the-cost-of-fostering
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