Working together to achieve the best for looked after children in the South West.
Working together to achieve the best for looked after children in the South West.
Fostering not only provides emotional fulfilment but also yields financial rewards. Weekly subsistence payments — starting at over £420 and potentially reaching close to £770 — are subject to minimal or no taxation. For detailed information, kindly refer to our notes below or contact us directly.
The fostering allowance you receive is contingent upon the specific needs of the child or children in your care. Children with more complex requirements typically warrant a higher allowance to help with their foster care. Additionally, allowances for older children generally exceed those for younger children.
Weekly allowances range from £420 to £770, encompassing compensation for your time and dedication as well as the expenses associated with fostering a child. These expenses cover:
As the primary caregiver, you possess the best understanding of the child's needs and, therefore, have the autonomy to allocate your fostering payment accordingly.
Tax Information When you foster with the Foundation you’ll be classed as self-employed. This means you’ll be entitled to tax relief on your fostering income and you’ll pay very little, or no, tax and national insurance.
The tax relief you’ll receive depends on your financial circumstances and you’ll still need to complete a tax return. For further information about working out your taxable income and eligibility for claiming working tax credit, visit the HMRC website (link below).
HMRC has also created a dedicated Foster Care eLearning package which offers Foster Carers guidance, advice and practical tips relating to tax and National Insurance, visit the HMRC website
How to transfer: Considering moving from your current agency or local authority?
Transferring to The Fostering Foundation is a straightforward process with full support from our team at every possible stage. If you're interested in switching to us, just reach out and we'll schedule a home visit to discuss the process. We'll collaborate with you, your current agency and the local authority to ensure everyone is informed, and that any children or young people in your care receive the necessary support. Remember that foster carers can only be approved by one agency at a time. The transfer process varies slightly based on whether you have a child or young person under your care when you decide to switch.
Home visit: Our dedicated recruitment officer will arrange a home visit or a virtual visit at your convenience. This informal meeting allows you to ask questions about fostering without any obligation to commit. During the visit, we will discuss the different types of children in need of care, the process itself and the support you can anticipate from us. Should you decide to proceed with the application to become a foster carer, we will provide you with an application form to fill out, or we can complete it together.
The assessment: Upon your application, we will conduct necessary checks and references, including health and safety checks, police checks, medical assessments, local authority reviews, financial assessments, and personal and professional references. You will meet your assessing social worker to agree on a start date for the assessment. Though comprehensive, this assessment offers insight into your suitability for fostering and typically takes four months to complete.
Pre-approval training: Aspiring foster carers are required to attend the Foundations To Foster training, which is designed to help you understand the fostering commitment and the needs of foster children, and develop essential fostering skills. Our bespoke training programmes also provide you with an opportunity to connect with others in similar situations and participate in additional training sessions with existing foster carers during the assessment period.
Meeting the panel and approval: Following the completion of your assessment and agreement with the report, an independent fostering panel composed of experienced professionals will review your case. You will meet the panel to discuss your assessment, and their recommendations will be presented to our agency decision-maker for final approval. The decision maker will determine the types of fostering placements that best suit your capabilities, including long-term, short-term, parent & child and respite care options.
Matching process: Upon approval, we will introduce you to children or parents and children in need of foster care from various Local Authorities we collaborate with. This marks the beginning of your journey as a foster carer, where you can make a positive impact on a child's life. Welcome to our fostering family.
Copyright © 2022 The Fostering Foundation - All Rights Reserved.
Registered in England and Wales No. 06445595
Registered Office: 74a regent street, kingswood, bristol, United Kingdom, bs15 8ja