A dedicated tax service for foster carers.
Preferred tax advisor to FosterTalk.
Tax for foster carers
When you use Intellect Tax Services, you simply complete our straight-forward questionnaire and we do the rest.Find out more
Anyone who is self-employed and earning over a certain amount has to pay National Insurance. Here at Intellect we take care of everything for you.Find out more
Benefits and tax credits
We aim to simplify the process of managing your finances, and make sure you receive what you are entitled to as a valued foster carer.Find out more
Tax for non-foster carers
Our team are qualified to prepare personal tax returns or deal with personal tax matters.Find out more
I think the benefits support is brilliant and should be known to carers. I have been fostering for five years without knowing I was entitled to benefits!
I recently needed advice regarding tax/benefits, Intellect talked me through the paperwork and helped me understand it all. I couldn’t have done it without you. Thank you.
I have used Intellect Business Services Limited and have received excellent service.
I’d like to note how helpful and pleasant the tax staff are – they provide fantastic customer service.
I attended a support group where two ladies from Intellect did a presentation on foster carers’ taxes. I came out really positive knowing a lot more about how to deal with my finances.
I can’t tell you how much of a relief it was to discover that I could be helped with my tax return – I was paralysed by fear. Thank you.
Q. I’m a foster carer…what benefits am I entitled to claim?
A. Many carers have problems making claims to the relevant agencies and are misinformed about their eligibility to benefits – we can help you resolve these issues.
Unfortunately there simply is not a “one size fits all” answer to this question but we would encourage you to call us and discuss your situation.
Q. I’ve received a Class 2 National Insurance bill. Do I have to pay it?
A. Class 2 National Insurance has been charged because you are registered with HMRC as a self-employed foster carer. All self-employed individuals between 16 years and state pension age are potentially liable to pay Class 2 NICS, unless you are entitled to claim small earnings exception because you have low profits from self-employment (below £5,965 in 2015-16).
Q. What records do I need to keep as a foster carer for tax purposes?
A. As a registered foster carer, you are required to keep the following records in order to calculate your profits from fostering and complete your tax return: Records of your total fostering income, the dates the placements arrive and leave, their dates of birth, and records for any exceptionally large or unusual expenditure which might occur if you are a specialist foster carer.