Court of Protection

Budget Summary March 2022

A budget update from Mullis & Peake LLP Solicitors:

23 Mar 2022

M&P Commentary

The Chancellor, Rishi Sunak, delivered his Spring Statement today.  This was originally intended to be a review in advance of the full Budget in the autumn.  However the costs of living crisis has led to the announcement of a number of changes:

  • Fuel Duty will be cut by 5p a litre from 6pm this evening
  • The threshold for National Insurance (NI) will be raised from July.  The current limit of £9,600 before NI is payable will increase to £12,570
  • The basic rate of Income Tax will be reduced from 20% to 19% in 2024
  • VAT on energy saving products, such as heat pumps and solar and panels has been cut from 5% to zero for five years
  • The Employment Allowance, which assists small businesses with NI contributions, will increase from £4,000 to £5,000 on 6th April 2022
  • There will be an increase in the household support fund.  When it was set up last year the fund had £500m to help families with the cost of living.  This will double to £1bm from April 2022.

Lower growth forecasts are predicted as a result of the impact of the war in Ukraine and inflation is expected to be an average of 7.4% this year.

 

 

OUR CLIENTS SAY ABOUT US

Ranked highly in Romford and Brentwood for solicitor firms

Family
The service I received from Allison was exceptional. Always highly professional and informative.
Virginia
Wills
Mullis and Peake are very efficient, professional and friendly company to deal with. Excellent service throughout.
Brian
Employment
Excellent, swift service from Esther at Mullis & Peake. Showed clear expertise in her field & walked me through everything patiently & thoroughly.
Dan
Company and Commercial
I found the service provided was excellent from start to finish, with our requirements met in a timely manner throughout.
Gary
Wills
Staff very helpful and friendly. Trudi was easy to talk to and to understand the procedure.
Pamela
Dispute resolution
We contacted Martyn to deal with a sensitive Will dispute and we can’t thank him enough for his commitment and hard work.
Salena
Residential Property
Very prompt. Experienced. Expert. Friendly.
Trevor
Commercial Property
Excellent service and far quicker than previous negotiations using a different solicitor.
John
Family
At all times I was kept informed about the progress of the case and everything was completed in a timely fashion.
Melanie
Personal Injury
Martyn undertook and guided me through the lengthy process [of a personal injury case], and after much work, achieved a successful result.
Shirley

Related News insights

Legal, Wills & Power of Attorney
10 Myths about Wills and Probate
Court of Protection, Legal
Probate Service in Crisis
Employment Advice, Legal
What Does a Labour Government Mean For Employment Law?
Charity & Fundraising, Mullis & Peake
LawNet Challenge 2024 – Completed!