Fostering Allowances | Soundly Fostering | Thetford | Norfolk
fostering allowances

Fostering Allowances

At Soundly Fostering we want to ensure that foster carers have the financial resources to provide for the children they care for, therefore, we provide a generous allowance to ensure that this can happen. However, it is our view that foster carers primary motivations should be in wanting to change a child’s life by creating positive experiences and a caring environment. The allowance is there to support foster carers in making this happen.

Financial Support:

As a foster carer with Soundly Fostering, you are part of the professional team around the child and therefore will receive a professional’s allowance which should cover all the expenses incurred in caring for a child, including a reward element for your hard work and commitment.

Our Allowances:

These vary depending on the child and agreement with the placing authority, for example our standard payment can attract an annual allowance of up to £23,400 per child, inclusive of additional payments, which include a 14-night respite allowance, holiday and birthday allowances and when necessary, we will also consider other exceptional needs payments. While the enhanced fostering can attract an annual payment of up to £33,800 inclusive of additional payments.

In addition, fostering children and young people attracts favourable tax allowances, the details of which can be found in the link below.

You will need to be registered as self-employed when you started to foster and you’ll need to file tax returns. We will assist in ensuring you know what you need to do.

For advice on tax for foster carers click here

For further details please call 01842 818793 or email us here

Fostering Allowances | Finances