Explore Financial Support for Foster Carers!

We understand the importance of financial stability for our foster carers. Our weekly fee programme is designed to support you, acknowledging the vital role you play in providing a home for the children you look after.

With our tailored financial support, you can focus on making a positive impact on young lives while receiving the backing you deserve. Our weekly fee programme is here to support you every step of your fostering journey.

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At Foster Cares, we are committed to offering thorough financial support to make your fostering journey both rewarding and manageable. Our allowances are designed to cover essential needs and beyond, ensuring every child in your care is well-supported.

Here’s what you receive:

• Weekly Allowances: Ranging from £460 to £685.63 per child, depending on age and the type of fostering, to cover daily necessities like heating, lighting, food, and any out-of-school activities.
• Additional Support: On top of your weekly allowance, you also receive:
  • Birthday Allowance: £105 per year to make each child’s birthday memorable.
  • Festival Allowance: £130 per year for celebrating festivals and special occasions such as Christmas & Eid.
  • Holiday Allowance: £450 per year for children under 13, and £560 per year for children aged 13 and over, to help cover the costs of family holidays.

Our payments are directly deposited into your bank account, ensuring you have one less thing to worry about. This support system is designed to ease financial concerns so you can focus on what matters most: Providing a nurturing home while we take care of the rest.

We want you to make the most of the financial support available to you. As a foster carer, you are considered self-employed for tax purposes, which comes with unique benefits designed to ease your financial load.

Here is what you can expect:

• Annual Tax Allowance: Reduce your taxable income by up to £19,360 per year, shared between carers in your household.

• Weekly Tax Relief: You can claim £415 per week for each child under 11, and £495 per week for each child aged 11 or over

These tax benefits help you keep more of your earnings, making your fostering experience financially rewarding. We understand that tax matters can be complex, so we’re here to guide you through every step and make sure you are fully supported.

At Foster Cares , we understand that everyone’s situation is unique. We want to reassure you that fostering won’t affect your eligibility for Universal Credit.

As a self-employed foster carer, you may also be eligible for additional financial support through Working Tax Credit and Child Tax Credit, which can provide extra financial assistance for your family.

We are here to guide you through the complexities of tax credits and benefits, making sure you have all the information you need to make the most of your fostering journey. Our goal is to support you every step of the way, so you can focus on providing a loving and nurturing environment

Every year you foster with us can help build your future financial security.
Foster carers may be eligible for National Insurance credits, which can help protect your entitlement to a full State Pension.