Smith & Williamson acquires the tax business of Begbies Traynor Group Plc and takes on 12 new tax partners

Smith & Williamson has acquired the trade and assets of BTG Tax LLP, which is a member of Begbies Traynor Group Plc.

As a result of the acquisition, Smith & Williamson will have an annual fee income of circa £180million and take on an additional 55 staff, including 12 partners. This means the enlarged firm will employ almost 300 tax professionals across all offices and generate income of about £40million from its tax business. Smith & Williamson is the ninth1 largest firm of accountants in the UK.

The incoming team includes private and corporate tax professionals with particular strength in tax investigations consultancy and the sports, media and entertainment sectors.

Commenting on the acquisition, Kevin Stopps, Managing Director of Tax & Business Services at Smith & Williamson said:

“We are delighted that such an experienced tax team is joining us; there is an excellent strategic fit between the new team and Smith & Williamson, both in terms of geography and service provision.”

Following the acquisition, Smith & Williamson’s Birmingham office will grow through the addition of about 30 tax professionals. The arrangement also means that Smith & Williamson will, for the first time, have an office in Manchester. The firm will also provide tax advice from Jersey and Cyprus.

Kevin continued: “The incoming Birmingham tax professionals will be working alongside our existing investment management team. This combination of tax and investment advice will significantly enhance the services offered by Smith & Williamson to clients in the Midlands and helps to set us apart from others.”

The enlarged Birmingham office will have a headcount of over 50 people and in addition to the strong combination of investment management and tax, offers pensions and financial planning advice.

The 13-strong Manchester team joining Smith & Williamson includes private client and corporate tax experts as well as senior staff who advise on tax investigations.

Smith & Williamson includes an investment management business with about £11 billion funds under management and advice (as at 30.09.11), making it one of the largest private client investment managers in the UK.