How much do foster carers get paid is a question we are asked frequently. We believe that fostering not only provides an alternate means of income, it also provides a fantastic opportunity to change the way you live and the life of a child. And you can’t put a price on that.
Being a foster carer is a respected and valued profession and as such we offer generous and competitive fostering allowances. These are designed to offer our carers a reward element AND also cover the cost of looking after a child or young person in your care.
To find out more about our generous allowances, please get in touch with us.
Turning to the practicalities, as a foster carer you will be classed as self-employed. Your earnings will be subject to special tax arrangements which generally means you will pay extremely low, if any, tax on your fostering income. There is a fixed tax exemption of up to £10,000 per year and you may also be able to receive tax breaks on earnings over £10,000..
If you currently receive benefits, these may still be paid alongside your fostering payments.