Law firm completes deal to acquire specialist tax consultancyApr 03, 2020
LAW firm EMW has completed the acquisition of property tax consultancy STax, the first in its growth strategy of acquiring specialist consultancies.
STax provides capital allowances claims advice for property developers, owner occupiers and investors, helping them to maximise returns from what can be substantial tax relief.
The firm is headquartered in Brighton and also has offices in London, Edinburgh and Plymouth, employing 20 staff members. Purchasers and sellers of both commercial and major residential developments can often benefit by making substantial capital allowances claims. STax says that tens of billions of pounds have gone unclaimed due to the complex and low-profile nature of the relief.
EMW principal Ian Morris said that the acquisition will build on the law firm’s well-established expertise in property law by offering clients additional surveying, tax advice and claims handling for capital allowances.
“The acquisition of STax is an exciting first step in the next stage of EMW’s growth,” he added. “This is the first step in our plan to transform the firm by adding complementary services that align with the work of the firm’s core legal practice.
“We are targeting expansion into other areas of professional services to support our commercial legal practice. This is likely to include acquiring further boutique consultancies in niche service areas.”
EMW, whose head office is at Knowlhill in Milton Keynes, will continue to invest most heavily in our legal teams. “But we see the opportunity to grow other consultancy work alongside law,” said Mr Morris.
“STax is the clear independent market leader in capital allowances advice. Bringing their skills into the EMW family was the best first step we could make in implementing our diversification and growth plan.
“Capital allowances claims can act as a very powerful accelerant of returns for property developer and investors, but many miss out simply because their advisers lack the specialist knowledge and experience to identify and deal with claims properly.
“The next step for EMW is to acquire more market-leading specialist consultancies in the South East of England, in areas that align with our core practices and genuinely add value for our clients.”