Thank you for all of the suggestions. The one which I originally favoured was turning off the existing thread, fixing on a sleeve and threading it to fit the new chuck. However, having looked carefully at the spindle, the wall between the inside taper hole and the outside, once the thread has been removed, will be very thin, especially near the end. This rather puts me off the idea.
I have decided to buy a chuck anyway and just have a good look at the fitting. The pictures of it give the impression that it has a very deep, unthreaded 15mm register. If that is the case, I may be able to make a spigot, but use the depth of the register to reduce the increased overhang introduced by the spigot.
If, on the other hand, it does cause a large overhang, then I shall have to think again. Mind you, seeing this set up, I wonder……..

Regards,
James.