How much will I be paid as a foster carer?
Birmingham Children’s Trust understands that fostering requires time and commitment from our carers.
We offer a competitive financial reward package to our foster carers including
- Birthday/festival allowance
- holiday pay
- set up grant
Birmingham Children’s Trust is one of the few agencies who also give our foster carers
- 4 weeks Holiday pay per year
- Guarantees 4 weeks pay when there is no child in placement
What you will be paid exactly will be dependent upon a number of things such as the type of placement, the age of the child and their specific needs.
However it is helpful to know that as well as receiving financial support for fostering there is a number of Tax benefits too.
Each year you would be entitles to a Tax exemption of up to £10,000 per fostering household. This means you won’t have to pay tax for the first £10,000 that you earn!
You may also be entitled to further tax relief for each week or part week that you have a foster child living with you.
If you foster, you’ll be eligible for National Insurance credits, which counts towards your State Pension.
The HMRC offers a dedicated website link in relation for foster carers in relation to tax, national insurance etc.
The benefit system is complex and so we advise that you seek support regarding your individual circumstance.
There are a range of benefits that you may be eligible for such as Income support, job seekers and housing benefit.
All of our registered foster carers are members of ‘Foster Talk’ who are able to offer a range of support services including financial advice and support about tax, benefits and other financial issues.