The transaction, completed on 31 May 2024, saw TaxAssist Direct Acquisitions Limited, a wholly owned subsidiary of The TaxAssist Direct Group Limited, acquire a majority stake in the largest TaxAssist Accountants franchisee practice within the network.
Chief Executive Officer, Daren Moore FCCA, said: “I am pleased to announce the successful completion of the first of our planned acquisitions for 2024, with The TaxAssist Group taking a majority stake in Mike and Penny Melling’s TaxAssist Accountants franchise business.
“Mike and Penny’s accounting practice has been built and operated very effectively over the past 12 years and clearly met the key criteria we set when looking at acquisition and resale opportunities.
“This purchase marks a significant milestone in the delivery of our ambitious Strategic Plan. The acquisition will immediately boost the profitability of The TaxAssist Group and provide us with access to a well-run accounting practice. This will create substantial economies of scale and will allow us to cross sell and upsell services at a local level, capitalising on the opportunities provided by our range of complementary services.
“The acquisition will also support our ongoing development and improvement of the services we provide to our franchisees creating the opportunity to develop and test ideas, refine processes and continue to build our ‘TaxAssist Practice Engine’ model in a live practice environment which can then be shared with our networks.
“2024 is proving to be a very busy year. We began with the launch of our new group branding, which has received a hugely positive response from our network and their customers. We have followed up with a key acquisition which will create future opportunities for shareholders and franchisees alike. These are important elements of our longer-term Strategic Plan and we look forward to announcing further exciting news in the second half of the year.”
The acquisition gives The TaxAssist Group responsibility for three established franchise territories: Harpenden; Beaconsfield & High Wycombe; and Potters Bar, Welwyn Garden City & Hatfield.
The acquisition forms part of the Group's broader strategy to support sustainable growth while developing additional opportunities across its network. As well as contributing to the Group's financial performance, the transaction provides a live practice environment in which operational processes, services and new initiatives can be developed and tested before being shared more widely.
The TaxAssist Group also has a distinctive ownership structure within the franchising sector, with the business part owned by franchisees. Franchisees operate independently within their local territories as part of the wider TaxAssist network and, where eligible, have the opportunity to become shareholders in The TaxAssist Group.
June 2024
With a detailed plan for the growth and evolution of the TaxAssist brand, plus the addition of new products and services, these are exciting times for the TaxAssist network.
Franchisee Case Studies
Bukky Shonola
Jaz Grewal
Karen Goncalves
Raza Syed
Kam & Sejal Sira
Hannah Campbell
Accreditations & ethics
The Group abides by the ethics of the British Franchise Association (bfa) and works closely with all relevant accountancy and tax professional bodies and institutions. TaxAssist Accountants is also a member of the Irish Franchise Association and the Franchise Council of Australia (FCA). In 2025, The TaxAssist Group earned a Great Place to Work 'Best Workplaces in Consulting & Professional Services' certification, a prestigious award based entirely on what current employees say about their experience of working at The TaxAssist Group.
