Leading South Wales Chartered Certified Accountancy firm Morgan Hemp is expanding its team, with two more recruits joining the fold.

Alice Bowen and Hayley Jones, both Semi-Senior Accountants, have been recruited as part of ongoing expansion at the Swansea company.

The Swansea-based firm has seen a steady influx of new employees over the past few month, along with another one of its Senior Accounts Clerks gaining full ACCA (The Association of Chartered Certified Accountants) membership.

Morgan Hemp Director Martin Hudson said: “We are delighted that Alice and Hayley have joined us…

Q. What is our IHT position following a change of ownership?

A. In 2014, my partner and I changed the ownership status of our house from joint tenants to tenants-in-common. At that time, my share of the equity was reduced from 50% to 25% and my partner’s was, in turn, increased to 75%. Does this count as a lifetime gift for inheritance tax purposes (IHT)?

If you are married to you partner (spouse or civil partners), then the change will not count as a lifetime gift (a potentially exempt transfer…

The Van Benefit and Car and Van Fuel Benefit Order 2015 (SI 2015/1979) comes into force on 31 December 2015 and takes effect for the tax year 2016-17 and subsequent tax years. The Order contains provisions for the following:

– the cash equivalent of the van benefit will rise from £3,150 to £3,170 for 2016-17;
– the van fuel benefit will increase from £594 to £598; and
– the cash equivalent of the benefit of fuel for a car is calculated by applying the ‘appropriate percentage’ (normally calculated by reference to…

As part of a £1.3bn investment to transform HMRC into one of the most digitally advanced tax administrations in the world, HMRC have published a report and discussion paper setting out how new procedures for interacting with HMRC and paying tax will be implemented under the Making Tax Digital banner.

It is intended that by April 2016, every individual and small business will have access to their own secure digital tax account that enables them to interact with HMRC digitally. By 2020, businesses and individual taxpayers will be able…