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Budget 2015: Key points for family lawyers
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On 8 July the Chancellor of the Exchequer unveiled the first
Budget of the Conservative government – hype all round – but what are the key points for family lawyers? Unsurprisingly there is something for everyone to note here but for those with a money practice there is plenty to keep on top of.
As expected the Budget saw cuts to benefit payments with the overall benefits cap being lowered to £23 000 in London and £20 000 outside. Tax Credit and Universal Credit will be restricted to two children per household for children born after April 2017 while the income threshold for tax credits will be reduced from £6 420 to £3 850. Working age benefits other than maternity pay and disability benefits will be frozen while those aged 18 to 21 will no longer be entitled to claim housing benefit automatically.
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