finance HMT broadens its transaction support offering
HMT is delighted to announce that Daniel Kelly is joining its team as a financial modelling partner to broaden its transaction support offering by leading a specialist financial modelling team, writes Andrew Thomson, manager partner, HMT
Kelly has 18 years’ experience in financial modelling including seven years at PwC which included three years as team leader for the financial modelling team of 17 consultants. During his career, he has been working on transactions ranging from £5 million upwards and recently led the modelling and financial appraisal of a projected £500m-plus IT project, leading the forecasting across six global regions of a FTSE100 company.
HMT offers financial modelling services both as part of the integrated corporate finance offering and on a standalone basis to corporate and institutional clients who are contemplating entering a buy-side, sell-side or fundraising transaction or to create an operational tool for strategic planning. HMT will build bespoke and granular financial models that focus on the key value drivers of the business and create a tool that will add value to a transaction, the stakeholders of the process and to the management team thereafter.
Our financial modelling team has advised on numerous transactions in the past 12 months including the fundraising for Channel Mum, the MBO of UAP, the acquisition of Parcel Hub and Mail Workshop by Whistl and the investment in Smyle Creative.
With the addition of Kelly, we are unique in that we have partner-led specialist transaction delivery teams which can support a transaction covering all of the four key disciplines of due diligence, debt advisory, financial modelling and tax advisory.
Kelly commented: “After having worked for large firms and entrepreneurial businesses alike, I am delighted to be joining HMT to develop their financial modelling offering and work with their clients on transactions.”
We are delighted to welcome Kelly to lead our financial modelling team. HMT is committed to invest in its people to
Public trusts accountants over politicians on tax
Recent research has shown that, when it comes to tax systems, the public has greater trust in the professionals – including accountants and tax advisers – than it does in politicians and non-government organisations
The G20 Public Trust in Tax 2019 survey found that 55% of the general public report the highest level of trust in professional tax accountants, and 50% had trust in professional tax lawyers. However, 58% of respondents expressed distrust or strong distrust in politicians, albeit down 9% since 2017, and similarly, distrust in the media stands at 37%, down 4% since the last survey.
Experts at Whitley Stimpson, one of the largest independent accountancy practices in the area, with offices in Banbury, Bicester, High Wycombe and Witney, have responded to the findings with cautious optimism.
Jonathan Walton said: ‘What’s clear from this research is the need for all the significant players – from politicians to tax experts – to work together in building and sustaining the public’s trust in tax. On a more local level, the businesses and individuals who we work with also find the complexity of the tax system is a major issue. Their concerns include uncertainty, lack of transparency and the increasing costs related to taxes.”
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The research supports Walton’s own findings as part of his MSc degree in taxation at Oxford University in the faculty of law which reveals that the public are divided on whether multinationals should be forced to publicly disclose their taxes on a country-by- country basis: 56% believe the information should only be provided to tax authorities in confidence, or not provided at all; the remaining 44% support public disclosure. However, there is strong majority support for tax incentives supporting retirement saving and green energy projects (around 70%), and a half of respondents are supportive of incentives to attract multinationals.
Walton, already an Oxford University graduate who holds an MBA from Reading University and MA in leadership studies from Exeter University concludes: “Tax changes and the complexity of the system have raised concerns about transparency, complexity and inequality.
“At Whitley Stimpson we have the skills and experience across all areas of the system, meaning we’re ideally placed to steer
THE BUSINESS MAGAZINE – MARCH/APRIL 2019
meet our clients’ demands for high calibre services and it’s a testament to the pedigree and reputation of HMT that we have been able to secure someone of Kelly’s quality.
dkelly@hmtllp.com 020 3705 9110
hmtllp.com
our clients through what can be a very complicated process.”
For further details, contact Jonathan Walton:
01295 270200
jonathanw@whitleystimpson.co.uk
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