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Archive:November 2017

Please find below all the articles from November 2017.

Autumn Budget 2017

Making the most of your money and achieving your financial goals in a world of complex and ever-changing tax legislation requires careful planning and expert advice.

This guide introduces some of the key areas to consider when planning to maximise your business and personal wealth, although your exact requirements will depend on your individual circumstances.

If you have any questions or would like one-to-one advice tailored to your needs, please call us on 01792 466 428 or email Read More

Morgan Hemp Acquires City Centre Company

Morgan Hemp, has expanded its operations by acquiring Owen John & Co, cementing its position as a leading choice of accountants for SMEs.

Morgan Hemp director, Richard Morgan, says: “I’m delighted to see us take on Owen John & Co, a well-respected and long-established company with a similar ethos to our own – offering an approachable, practical, jargon-free service that is particularly valued by SMEs.

“I am pleased to welcome the Owen John & Co team of four to the Morgan Hemp fold, in Walter Road, and we look forward to…

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Can We Expect a ‘Steady As She Goes’ Autumn Budget For Stormy Times?

It might be the case, in these vexatious political times, that the Conservatives are hoping for some tasty vote-winning offerings from Philip Hammond’s upcoming Autumn Budget.

But the Chancellor’s style has always been steady and unshowy and there is little to suggest he plans to break that habit with any earth-shaking announcements on 22 November. There are, however, some hot topics that he is unlikely to be able to avoid, around student debt, the housing crisis and, of course, Brexit.

So, there is speculation around whether he may move towards…

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HMRC launch new business support service

HMRC have launched a new service designed to directly help mid-sized businesses as they expand and grow.

The new Growth Support Service (GSS) will be open to some 170,000 mid-sized businesses registered in the UK who are undergoing significant growth, and who either have a turnover of more than £10 million, or more than 20 employees.

Broadly, a business will be eligible under the ‘significant growth’ criteria if its turnover increased by 20% or more in the last twelve months, where this increase is at least £1 million.

HMRC’s GSS tax experts…

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OTS outlines future work plans

The Office of Tax Simplification (OTS) has published a paper outlining its future works programme, identifying areas of interest that the office will be looking at in the next twelve months and beyond.

The OTS is currently working on a review of VAT, and expects to publish its report in October or November 2017. Work has also commenced on a high-level paper on the business lifecycle which looks at key events and the various taxes which apply at these points.

The Government has requested a review of capital allowances and…

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All change for termination payments

As confirmed in the 2017 Spring Budget, the tax rules governing termination payments will change from 6 April 2018.

The term ‘termination payment’ is typically used as a generic summary for a lump sum payment, which is normally (but not always) made to an employee at the time the employment comes to an end. The current rules governing the taxation of termination payments are complex and over recent years, have been subject to manipulation by some employers seeking to minimise income tax and NIC liabilities. The forthcoming changes seek to clarify…

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Using the IHT gift exemptions

As Benjamin Franklin observed in 1789 ‘In this world nothing can be said to be certain, except death and taxes.’ More than two centuries on, this statement still rings true! These days however, inheritance tax is often referred to as a voluntary tax, because there are various ways to minimise liability to it, or even avoid it all together.


Any assets (cash or otherwise) that a person gives away during their lifetime, that do not fall under the exempt transfer rules, such as transfers between spouses and civil partners…

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