Our foster carers are treated as professionals at Nationwide Fostering, and we pay a competitive foster carer allowance in exchange for their work and skills. This gives them a sense of worth and appreciation for the difficult work they do.
Our foster carers are paid a weekly allowance per child, which can range from £354 to much more for a child who has been remanded into care or has exceptional needs. This is much higher than the government’s current minimum fostering allowances.
What does the fostering allowance cover?
The Fostering Allowance is essentially a foster carer payment that includes compensation for each carer’s abilities and devotion as well as a maintenance allowance. The following items are included in the allowance’s maintenance component:
- expenses for clothes
• pocket money and savings
• food
• leisure activities
• most school transport
At Nationwide Fostering we also add an additional payment to the allowance for children’s birthdays, religious or cultural festivals (Festival allowance) and a respite allowance.
Fostering allowance payments
On a fortnightly basis, our foster carers are paid promptly and on an agreed-upon day. We send each carer a monthly summary of payments and make sure they have access to an accountant who can help them with any financial or tax-related issues. It’s also worth noting that the government provided favourable tax incentives for foster carers several years ago, and all foster caregivers are considered self-employed by the Inland Revenue. If you’d like more information or have any questions concerning the fostering allowance, we’ll be pleased to provide you with all the assistance you require. Please contact us on 0203 600 0750.