Foster carers allowances – Bright Fostering

Foster Carer Allowances and Payments

At Bright Fostering Agency, we recognise the vital role our foster carers play in providing loving homes for children in need. We ensure our carers receive fair financial support to cover the costs of caring for a child and to recognise their dedication.

Fostering Allowance: Our fostering allowance is designed to cover the day-to-day costs of caring for a foster child, including the following:

Food
Clothing
Travel
Pocket money
Everyday essentials

We provide generous fostering allowance to recognise your skills, time, and commitment. This varies based on your experience, training, on the age of the child and the type of placement. Our current weekly allowances range from £450 per week per child.

Additional Allowances: We also offer extra allowances for the following:

Birthday and holiday celebrations.
School uniforms and equipment.
Specific needs of the child (e.g., special dietary requirements)
Mileage for approved journeys.

Tax Benefits

As a foster carer, you may be eligible for tax relief on your fostering income. We can provide guidance on this, but we recommend consulting with a tax professional for personalised advice.

You can find out more details about the tax-free payments for foster carers from HM Revenue & Customs.

Does Foster Care Allowance affect benefit entitlement?

As a foster carer you may be entitled to claim benefits and tax credits. The allowances and fee (if you get one) you receive from fostering are normally completely disregarded as income or only taxable profit from your fostering is taken into consideration for the purposes of calculating your entitlement to benefits.

For further information about claiming benefits while fostering visit the Government’s website, or download the HMRC’s leaflet on tax credits.

Source: The Fostering Network

Payments to foster carers

Payments are made directly into foster carer’s bank account every month in arears.

Support for Initial Costs: We understand that welcoming a child into your home may involve some initial expenses. We offer a settling-in grant to help cover these costs where needed.

Ongoing Financial Support: Our commitment to your financial well-being doesn’t stop at regular payments.

We offer the following in addition to the allowances:

Respite care payments.

Holiday bonus.

Remember, while the financial aspect is important, the true reward of fostering comes from making a positive difference in a child’s life. Our team is always available to discuss the financial aspects of fostering in more detail.