Neil MacGillivray: The Chancellor who keeps on giving, for now

'Summer Santa'

clock • 3 min read

Earlier this week Neil MacGillivray took a view on what taxes may be implemented to subsidise the government's recent surge in Covid-19 spending but, after Wednesday's summer economic update from the Chancellor, the tax expert says Rishi Sunak is still all "give, give, give"...

I can't believe there is a TV channel dedicated to Christmas films over the summer. But maybe the season of goodwill has come early given Rishi Sunak's Summer Economic Update, as it's very much give, give, give - with no take, take, take, as there were no implied tax increases. Perhaps the most interesting news for advisers was the much-anticipated temporary increase to the Nil Rate Band of Residential SDLT (Stamp Duty) from £125,000 to £500,000 until 31 March 2021. In England and Northern Ireland, it's estimated that this change will mean that nearly 9 out of 10 people getting on or ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Tax planning

Budget 2025 predictions: Balancing economic reality and political ideology

Budget 2025 predictions: Balancing economic reality and political ideology

26 November speech will likely affect estate planning, investments and property

Stephen Kenny
clock 18 September 2025 • 4 min read
From A-Day to mayday: 20 years on and the government is still missing the point on pensions

From A-Day to mayday: 20 years on and the government is still missing the point on pensions

'Barring a political earthquake, IHT on pensions is here to stay'

Lee Halpin
clock 18 September 2025 • 3 min read
House of Lords to scrutinise govt's IHT on pensions overhaul

House of Lords to scrutinise govt's IHT on pensions overhaul

Inviting responses on how the reforms will work in practice

Isabel Baxter
clock 18 September 2025 • 4 min read