Chancellor to deliver Summer Economic Update

Chancellor Rishi Sunak will deliver the Summer Economic Update today, in which he will announce measures to help boost the UK economy following the coronavirus (COVID-19) lockdown.

Glasgow: 0141 221 0477 | East Kilbride 01355 230161 | Hamilton: 01698 284 888 or email accountants@ngs-ca.co.uk

Chancellor Rishi Sunak will deliver the Summer Economic Update today, in which he will announce measures to help boost the UK economy following the coronavirus (COVID-19) lockdown.

The Chancellor is expected to cut taxes in order to help the UK economy recover following the COVID-19 lockdown.

Experts predict that the Chancellor will reduce VAT for businesses in the hospitality sector and outline further plans to increase investment in training and apprenticeship schemes.

Many also anticipate a six-month stamp duty holiday which would see the stamp duty threshold raised temporarily from £125,000 to between £300,000 and £500,000.

Additionally, the government recently announced a £1.6 billion bespoke package of loans and grants to help the UK's arts and heritage sector recover from the lockdown. The Chancellor is expected to provide funds to other sectors in order to support growing industries.

Some also believe that a so-called 'wealth tax' could be announced by the Chancellor. This would take the form of a levy on individuals' personal wealth.

The Summer Economic Update will be delivered at midday today. We will keep you up to date on the key announcements.

Dedicated to delivering a first class client service

Nelson Gilmour Smith has been in business for over 100 years and today, we continue to build on our enviable reputation for providing excellent advice and first class service to our business and personal clients alike.

We have many clients in the local community and service businesses, small and large, across many sectors.

Learn more

Latest news
Contact Details

Please call:
Glasgow: 0141 221 0477
Kilbride: 01355 230161
Hamilton: 01698 284 888

View office Locations

Home | Contact us | Site map | Accessibility | Disclaimer | Privacy | Help |

© 2021 Nelson Gilmour Smith. All rights reserved. powered by totalSOLUTION

Nelson Gilmour Smith, Mercantile Chambers, 53 Bothwell Street, Glasgow, Lanarkshire G2 6TB
Kilbride Office : 33 Kittoch Street, East Kilbride G74 4JW
Hamilton Office : 47 Cadzow Street, Hamilton ML3 6ED
We use cookies on this website, you can find more information about cookies here.