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Chancellor, Rishi Sunak presented yesterday the Summer Economic Update against a backdrop of economic uncertainty caused by the Coronavirus (COVID-19) lockdown.

Our summary of the Summer Economic Update can be found by following the below link. It provides an overview of the key announcements from the Chancellor’s speech. Measures include a new Job Retention Bonus to support the phasing out of the Coronavirus Job Retention Scheme (CJRS), a VAT reduction for businesses in the hospitality & tourism sector and a temporary increase to the nil-rate band of residential Stamp Duty Land Tax (SDLT).

Summer Economic Update

Also, throughout the Summary you will find informative comments to help you assess the effect that the proposed changes may have.

If you would like more detailed, one-to-one advice on any of the issues raised in the Chancellor’s speech, please do get in touch.