Finance special: how the 2024 budget is impacting family law

Charlotte Posnansky, Charles Russell Speechlys LLP

The Budget of 30 October 2024 (‘the Budget’) was one of the most hotly anticipated budgets in almost two decades. Not only was it the first Budget from a new government, there had also been forewarning about potentially significant and wide ranging tax changes– impacting individuals, families, businesses and other entities. The tax changes are far reaching, from VAT to IHT and impact many areas of family life. The first key change to be introduced was the addition of VAT to school fees (introduced in January 2025) and the impact of this, as well as the other significant measures from the Budget, are now coming into effect. In this article some of our Family team (Sarah Jane Boon, Sarah Higgins, Miranda Fisher and Charlotte Posnansky) consider some of the most relevant family law issues and practical impacts following the Budget.