Fostering payments wales
- All of our carers are paid a professional fee when they are caring for a child.
- Although our carers foster because they want to make a difference, the money they receive acts as compensation for their hard work.
- If you have any worries about money, fostering allowances or taxes – please give us a call and we can put your mind at ease.
Fostering focuses on delivering care at home to children and young people who need safety, protection, nurturing, and love. Family Fostering Partners does not expect you to do this for free. We know that fostering is a labour of love but we also recognise it as a professional career.
As well as the nurturing and safe environment you provide and your time and energy, you are providing an immensely valuable service to looked after children and to your community. It is only fair that you are compensated for the important work that you do.
When you take a young person into your home to look after, you will be paid an allowance. This allowance is your reward for your parenting but it also covers the day-to-day cost of looking after that young person, such as clothing and food. It also covers providing him or her with appropriate leisure activities, lunch money and an agreed amount of pocket money. Our allowance is paid fortnightly directly into your bank account, and the amount will vary depending on the youngsters in your care and the complexity of their needs. The amount is calculated per child per week.
Your Supervising Social Worker works with you during the assessment and will help you identify what children or young people you are most suited to look after. The factors taken into consideration include your skills and experience, the size of your home, and your own family composition. You may wish to be assessed for and approved to look after more than one young person and you will receive an allowance for each child in your care.
Whilst our foster parent do not take on the role simply for the monetary reward, it is worth remembering that being a carer is classed as self-employment and HMRC allows various tax exemptions or tax relief for foster parents. Details of these will be explained during the application process.
We are emphasising that should you wish to become a carer, do not let concerns about the financial side of things stop you from applying. Simply give us a call as we would be happy to explain more and put your mind at rest. Each fostering service sets its own allowance levels, and the amount varies depending on the needs of the child. We offer generous allowances. Also, foster parents are treated as self-employed for tax purposes and this is a good benefit.
Speaking of benefits, if you currently claim welfare benefits, being part of our team is not likely to interfere with your claim because you are approved rather than employed. Foster payments are typically disregarded when calculating welfare benefits.
Another matter that is worth mentioning is that if you have had financial problems in the past, this should not prevent you from being a foster parent. If you can show that you are now financially secure enough to provide a stable home and that you can manage your allowances, that is all that matters.