The Chancellor presents his summer “emergency budget” tomorrow, 8th July. We will be following his speech as he gives it (provided the Ashes test match from Cardiff is not too distracting) and will tweet about anything worthy of immediate comment. However, we expect that, as usual with such things, the devil will be in the detail which will be provided later, in a mass of HMRC press notices and and then a draft Finance Bill. This will probably not be available as a draft until later in July and will not actually be passed into law until after parliament returns from the summer recess. We will not be commenting in detail, therefore, until we have had a chance to look at it a bit more closely particularly as, this time around, there are very likely to be some new provisions which are quite technical in how they are implemented.