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Foster carers tax help and advice

Foster carers tax help and advice

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Foster carers tax help and advice | fostertax.net Reviews

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Foster carers tax help and advice

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1

foster_tax_national_insurance

http://fostertax.net/foster_tax_national_insurance.html

Foster carers are liable for Class 2 and Class 4. All self-employed people between 16 and 65. Years of age (60 for women) should register to. Pay Class 2 National Insurance contributions. Rate of Class 2 NIC. 265 per week (2012/13) can be paid monthly. Or quarterly by direct debit. If your earnings are below 5595 in 2012/13, then. You can apply for a small earnings exception. If you choose not to pay Class 2 NICs, your. Entitlement to incapacity benefit, employment and.

2

foster_tax_useful_links

http://fostertax.net/foster_tax_useful_links.html

British Association of Adoption and Fostering. Charmes Limited Trading as fostertax.net registered in England and Wales. No 7031106. Registered Office: 14A Farlands Road, Stourbridge DY8 2DD. info@fostertax.co.uk.

3

Foster carers tax help and advice

http://fostertax.net/foster_carers_tax.html

Have you been given fostercare tax advice by your agency or local authority that you are not liable for tax on your fostering income? Are you registered for Class 2 NIC and submitting an annual self assessment return? If you are registered, have you been claiming exemption from Class 2 NIC for several years since your income was much lower? Has HMRC advised you that you don’t need to send a self assessment return, but your income has risen since then? For example, if you foster two children aged 11 or yo...

4

foster_tax_tax_relief

http://fostertax.net/foster_tax_tax_relief.html

How does Qualifying Care Relief work? Foster carers are only taxed on the income in. Excess of the qualifying amount. The qualifying amount is calculated as 10,000. Plus an allowance of 250 for over 11 year olds. Or 200 per under 11 year old child per week. If. This creates a loss, you will be treated as having. No profit or loss from foster care for the year; no. Loss relief can be claimed or carried forward into. The income from fostering is the total income,. Payments, presents, in respect of the care.

5

Foster carers tax help and advice

http://fostertax.net/index.html

Are you a foster carer? Do you worry about your tax situation but not know who to ask for advice? Do you want peace of mind? Do you want some foster tax advice? I am a chartered accountant with experience of helping foster carers. As a foster carers tax adviser I can help you and will contact HMRC on your behalf. Charmes Limited Trading as fostertax.net registered in England and Wales. No 7031106. Registered Office: 14A Farlands Road, Stourbridge DY8 2DD. info@fostertax.co.uk.

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