Anyone who was self-employed during the tax year 2012/2013 must file a self-assessment tax return and pay any tax due by the 31st January 2014. The tax year runs from 6 April 2012 to 5 April 2013. Anyone who was deemed as self-employed at any time during that period must return a self-assessment regardless if their situation has changed since.

Anyone not completing a return by this date, risk incurring penalties and interest on what is owed.

Foster carers are treated as self-employed by the HMRC and as such should file a tax return by the due date.

In any event, if you think you should register with HMRC for the 2012-2013 tax year, you can do so online by visiting www.hmrc.gov.uk and registering there, or you can download a hard copy of a registration form and send it to HMRC>

The self-employed register using form CWF1, otherwise you must complete form SA1.

Having registered, in due course you will receive notification of your Unique Tax Reference (UTR) from HMRC along with a request to prepare a tax return for the 2012-2013 year. You will normally by given 90 days from receipt of the notification to prepare and submit your return after which time you will incur a penalty (starting at £100).

If you are a foster carer; there are special regulations included in HMRC Helpsheet 236 “Qualifying Care Relief” which give generous round sum expense allowances to foster carers ensuring many carers do not have any tax. A foster carer household receives an annual allowance of £10,000 per annum plus a weekly allowance of £200 per week for each child under 11 years old, and £250 per week for each child aged over 11 years. The allowances apply for each child in placement for each week or part of a week.

Information supplied by FosterTalk

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