Wow! Thanks a lot fella's for the options and suggestions. I have no way of machining the boss off of my topslide so unfortunately that is not a option for me.
I do like the sleeve idea, I could turn a sleeve to fit over the existing stud with inner and outer threads on the top so it tightens onto the stud.
Thanks for pointing me to your pictures Nick, noticed you're using a Tangential Tool, whats your opinion on it? Pity my lathe does not have a T-Slotted topslide, life would be so much easier. 
A big thanks once again, I will keep this thread updated with my progress!
Just need to complete my tool height gauge then will crack on with this little project.
Grant
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