Expansion reaps rich rewards for KPMG private client team

AN investment in new talent has reaped dividends for Big Four accountants KPMG in Birmingham.

The firm’s Midlands private client team has seen 20% growth in consecutive years, enabling it to expand and grow services.

The team, based in the firm’s office at One Snowhill, has grown by nine people since 2014 and the expansion has enabled the business advisor to more effectively target local family businesses and their tax obligations.

It has also sought out new overseas investment into the region by working with foreign nationals looking to expand into new markets.  

New arrivals at the firm include Simon Johnson, who relocated from KPMG’s Bristol office to lead the team as Director of Private Client Advisory for the Midlands.  
 
To supplement the new hires, the practice has also invested in its own talent, promoting Tom Whybrow to Senior Manager and Sarah Charles to Manager.
 
With the Chancellor’s Budget 2016 outlining a raise in the threshold for the higher bracket of income tax, the introduction of a Lifetime ISA and the reduction of capital gains tax, the 25-strong team is expected work volumes to increase significantly.

Mr Johnson said: “Since moving to the Midlands, I have seen our private client team flourish, advising a wide range of individuals and businesses on the complexities of the UK tax environment.
 
“The Chancellor’s Budget presents a number of interesting challenges for our team. The reduction of the capital gains tax will give many investors a boost. However, profit made on residential property will not be eligible for the lower rate, effectively creating an 8% surcharge.
 
“Such changes mean business and individuals need to look carefully at their investments and growth strategies, but the good news is that the Midlands continues to prosper and so these changes are set against a healthy economic outlook for the region.”