Becoming a foster carer is one of the most rewarding and worthwhile things you can do, but the fact is that you need to be properly recompensed for the costs involved in caring for someone else’s child.
For most children/young people placed with you the payment will be a minimum of £430 per child/young person per week. This amount includes a ‘reward element’, and the rest is perceived to be a contribution towards the cost of running the household, and includes certain sums that should be spent directly on the child/young person placed, e.g. clothing allowance, leisure activities, pocket money etc. Sometimes there are items of expenditure which would normally fall outside what you as a foster carer would be expected to fund from the fee you receive. This might include travel costs over a 20 mile radius of your home (for court appearances, contact, etc.). If such issues arise additional finance will be negotiated between All4U Fostering and the placing authority.
If carers transfer to the agency we are committed to following the Fostering Network Protocol. As part of this process finances in relation to the fee the local authority are charged and the fee a carer is paid will be discussed and agreed.
If a child/young person presents particular challenges the basic amount can be enhanced, and will be negotiated with individual local authorities by ALL4U Fostering, in the best interests of the child/young person and foster carers, and particularly if the placing authority request that the child/young person is placed alone.
Foster carers are paid when there is a child/young person actually living in the foster home. You, therefore, need to ensure you can manage financially during times when you do not have a placement. As a foster carer for ALL4U Fostering you will be classed as self-employed, so will need to complete a tax return, and will be responsible for your own National Insurance payments. However, most foster carers pay little or no income tax.
Please don’t hesitate to call us on 01959-535025 if you want to discuss any issues relating to finance – we are happy to help.