Foster Carers Tax Returns
Do you need to prepare a foster carers tax return?
If so, we can help! Here at CC Associates we have the knowledge and experience to assist foster carers through the process of tax returns, whether you have lots of fostering experience or if you are totally new to the process.
HMRC consider foster carers as self employed so if you are a new foster carer you will need to register for tax returns as soon as you start receiving any income from fostering. We will do this for you free of charge and help you to set up a system of recording your income and keeping the appropriate records, so that when the time comes you will be able to give us all the information we need to fill in your tax return correctly and submit it to HMRC on your behalf.
We will also guide you through the rules and regulations and help you decide which method of working out your tax is best for you, the “simplified method” or the “profit method”. We will also explain how to work out your qualifying amount and calculate any tax and national insurance that you should pay (if any).
You care so we care!
As a foster carer you do a fabulous job so you don’t need the added stress of worrying about tax and tax returns, CC Associates can take that burden from you leaving you to get on with what you do best.
Because we care and appreciate the valuable contribution you make to young people we think you deserve an extra ‘thank you’ for your hard work! CC Associates will give you a discounted rate from our normal tax return fee if your income is only received from foster caring and employment. If you have other self employments, directorships or rental income we can help you with that too.