Image about tax frequently asked questions and answers

TAX and insurance

Tax

As foster carers you need to register as self-employed.


HMRC has several online services to support foster carers including;

  • an e-learning link
  • ready reckoner - this calculates how much tax and national insurance needs to be paid on your self-employment earnings
  • @hmrcbusiness twitter account designed to help businesses
  • Facebook - HMRC promote key dates in the GOV.UK calendar
  • YouTube - a selection of short videos covering subjects such as registering as self-employed and record keeping
  • Business support app - allows access to all the above via a tablet or mobile device
  • HMRC has also recorded webinars on the GOV.UK website, there is one especially for foster carers including expenses, self-assessment and record keeping

Insurance cover

It is essential foster carers have car and household content insurance. You must inform your car and household content insurers when you become a foster carer. 


All foster carers are also covered by Bury Council's public liability and professional indemnity insurance.