When people become foster carers, it is not typically about the fostering allowance. They do it because they want to make a difference in the lives of children by opening their homes to them during a trying time. They want to help provide these children with resources they would otherwise be lacking and show them kindness and tenderness. However, providing for an additional child can be expensive, so there is nothing wrong with wondering about the fostering allowance and benefits UK foster carers can expect. Here, we offer some information for fostering allowances in 2022/2023.
What is Foster Carer Allowance?
The purpose of a foster care allowance is to help with the cost of caring for the foster child. The fostering allowance UK foster carers receive can vary based on whether the child has special needs, whether the carer is fostering more than one child, and the skills and experience of the foster carer, along with the age of the child and the location. The foster care service that is used also makes a difference. If you are planning to foster, your foster service will be able to tell you how much you will receive.
How much Foster Carer Allowance will I receive?
Can I get any more help on top of my Foster Carer Allowance?
Acorn Fostering Services can add to this minimum payment. In addition to the agreed-upon amount, Acorn Fostering Services can often help with extra money for things like school trips, holidays, birthdays, and religious festivals. Email us or give us a call with any questions you may have.
Breakdown of Foster Carer Allowance
The foster allowance breakdown essentially has two parts: money to cover the costs associated with caring for the child, and a reward to the carer for the work being done for the child. The costs of caring for the child include things like household expenses, food, clothing, and school expenses. The carer is rewarded for his or her time and skill, and this amount is based on the age of the child, the type of fostering placement, and whether it is specialist fostering. The thought behind this is that carers should be rewarded for providing homes where children can thrive.
Will I have to pay tax on my Foster Carer Allowance?
Special tax rules apply to foster carers. Essentially, a foster carer with one child placed in the home will pay no tax, and carers with more than one child will only pay a little bit of tax. This is accomplished by giving carers a tax exemption and care allowance, which can effectively lower the taxable income to a low enough rate that its’s no longer taxable. It should be noted, though, that foster carers cannot claim the Child Benefit or Child Tax Credit for a foster child.
However, foster carers may be able to claim income support, council tax reduction, income-based job seeker’s allowance, disability living allowance, working tax credits, and housing benefits.
Apply today to become a Foster Carer
Are you interested in becoming a foster carer? At Acorn Fostering Services, we provide good quality foster placements for children and young people, and we are always looking for foster carers who can offer children sensitivity and care. An Ofsted approved and registered independent fostering agency, we are based in Leicester and provide fostering agency services throughout the East and West Midlands and Northern Counties. If you think you have the life experience and qualities that would help you care for children of all types and you want to learn more about foster caring, call us 0116 216 6040 or email us.