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

Costly procrastination: Why inheritance tax is becoming a wider UK problem

Costly procrastination: Why inheritance tax is becoming a wider UK problem

'There is a clear disconnect between awareness and follow‑through'

Hugi Clarke
clock 14 May 2026 • 4 min read
Most millionaires would pay higher taxes to support young people – research

Most millionaires would pay higher taxes to support young people – research

79% willing to pay higher taxes

Sophia Panayi
clock 13 May 2026 • 3 min read
IHT thresholds would be £270,000 higher if they rose in line with inflation

IHT thresholds would be £270,000 higher if they rose in line with inflation

Growing interest in onshore bonds

Isabel Baxter
clock 13 May 2026 • 2 min read