![]() ![]() A generous mileage allowance is paid for travel to and from contact, training, meetings etc. You will get additional money just before the child’s birthday and just before Christmas to allow you to buy gifts etc. ![]() You don’t have to ask, you don’t have to submit evidence or invoices, Calon Cymru are on the ball, and it is a guarantee that as long as you have a placement, your money will go into your account. The money you receive is paid directly into your bank account fortnightly, a week in arrears, and a week in advance for each foster child you have in placement at the time. Calon Cymru will be able to support you every step of the way. You’ll be required to complete a self-assessment form each year. The money you receive for looking after a child is not a wage or salary, it is an allowance, and you will be classed as self-employed. There are a number of accountants who can support you with all the additional things you can claim for, and Calon can point you in the right direction if you needed external advice. What I can say, is that the tax benefits are huge, you have an amount immediately deducted from the money you receive as a tax benefit, you get an additional allowance for each child you have in placement each week. People often ask me ‘what’s the money like?’ Well, I am not able to say we actually earn because each placement is different and there is an element of negotiation with the local authority placing the child. Perhaps now is a good time to approach the subject of finances and foster caring. ![]() How is everyone in this current economic crisis? We seem to be hurtling from one thing to another at the moment.
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