We have the pleasure in sharing our Summary of the Summer Economic Update presented by the Chancellor.
Our report provides an overview of the key announcements arising from the Chancellor’s speech.
Rishi Sunak presented a raft of new measures to stimulate the UK economy in the wake of the coronavirus crisis. These 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 and tourism sector and a temporary increase to the nil-rate band of residential Stamp Duty Land Tax (SDLT).
The ‘plan for jobs’ is the second part of a three-phase plan to secure economic recovery and we set out the key elements in the attached report.
Additionally, 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, please do get in touch