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Abbey Protection acquires Accountax

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22nd Oct 2008
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Abbey Protection has announced that it has acquired IR35 specialists Accountax for £4,400,000.

Abbey Protection plc is a specialist legal and professional fees insurance provider and Accountax an independent accountancy, tax and employment law consultancy with clients drawn from accountancy practices, the construction industry and Personal Service Companies.

Dave Smith, director and majority shareholder in Accountax, and all of the senior management team will remain with the company.

Colin Davison, Chief Executive Officer of Abbey Protection, commented:

"Accountax is a company we have long admired and I am delighted to welcome the team into the Abbey Protection Group. Like ourselves, Accountax has a history of successful growth and a strong service ethic, and the cultural and strategic fit for the two businesses is compelling. Accountax is also a very strong brand, which we intend to maintain and develop.

The acquisition will give Abbey Protection an additional range of services and products to market through our own accountancy practice clients. This deal represents an important milestone in our strategy of organic growth and the acquisition of complementary businesses, and we are confident of continued success for the enlarged group.”

Dave Smith, Director of Accountax, added:

“Abbey Protection is an ideal partner for Accountax and I am delighted that together we will be at the forefront of our chosen markets by becoming the largest independent tax consultancy in the UK. The deal will also provide significant benefits for our clients and partners, and further opportunities for our employees.”

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