Make sure you understand what fostering allowance and fees you will be entitled to if you care for a child in Bury, Greater Manchester. As a foster carer, you receive a professional fee and a weekly child allowance. These payments are not means tested and you may also be eligible to receive benefits such as child tax credits. All allowances are paid to foster carers two weeks in arrears. Get in touch with Foster with Bury today to find out more.
The level of fostering allowance varies according to the age of the child. There are four age bands:
0 – 4 years
5 – 10 years
11 – 15 years
16 – 17 years
Furthermore, the fostering allowance is broken down into three elements:
Food (including school lunches)
Leisure activities and hobbies (including scouts, guides, and sports clubs)
Transport, including bus fare
Utility costs (e.g. heating, lighting, and washing costs)
Keeping a record of events and memories about and for the child
The following are paid separately and in addition to the above:
Foster carers also receive a professional fee in addition to the child’s allowance which in line with your personal training and development. in recognition of their completion of pre-approval and/or mandatory training. All foster carers are expected to attend training to maintain and update their skills and knowledge of fostering. The payable fee element is divided into two age bands – under 11 years and over 11 years.
Foster carers must register as self-employed and submit a self-assessment tax return. HMRC has several online services to support foster carers, including:
Tax and Insurance
An e-Learning link
Ready Reckoner – this calculates how much tax and national insurance need to be paid on your self-employment earnings
Webinars covering foster carers’ expenses,self-assessment,and record-keeping
@hmrcbusiness twitter account,designed to help businesses
Facebook – hmrc promotes key dates in the gov.uk calendar
Youtube – short videos covering subjects such as registering as self-employed and record-keeping
Business support app – allows access to all the above via a tablet or mobile device
As for insurance, foster carers must have car and household content insurance. You must inform your car and household content insurers when you become a foster carer. Finally, all foster carers are also covered by Bury Council's public liability and professional indemnity insurance.