Foster Carers Recognised in Spring Budget

Foster Carers Recognised in Spring Budget

We’re thrilled to see foster carers across the UK recognised in yesterday’s spring budget, with the government pledging to significantly increase the tax threshold on income to £18,140.

The announcement by Chancellor Jeremy Hunt is a huge step forward for foster carers and the children and young people in their care. We are thankful to the Chancellor for recognising the important work of the foster care network. The government is increasing the amount of income tax relief available to foster carers from April 2023.

The threshold of income at which qualifying carers begin paying tax on care income will be increased to £18,140 per year plus £375 to £450 per person cared for per week for 2023-24 and these thresholds will then be index-linked, representing a tax cut worth approximately £450 per year on average.* Currently, only £10,000, this increase on the tax threshold will have a significant impact.

We trust it will encourage more households to foster and get involved in a vocation they will never regret - the outcomes of which will change the lives of so many children and young people.

We’re very proud of the collaboration between organisations to ensure the government had a clear and cohesive message to drive this change. We have supported the movement led by Nationwide Association of Fostering Providers (NAFP), Children’s Services Development Group (CSDG) and Foster Talk, who have been driving this conversation and agenda in recent years.

Director of Calon Cymru Fostering, Sharon Cavaliere says:

“We are extremely happy to see foster carers recognised in the Spring Budget. This increase in tax relief will no doubt have a positive impact for years to come, and will in turn, encourage more people to consider fostering.”

Calon Cymru Fostering wouldn’t be what it is without our amazing foster carers. Are you considering fostering? Do you have any questions about the latest budget announcement? We’d love to hear from you, contact us using the link below.

* gov.uk