Smith & Williamson, a UK member firm of Nexia International, has acquired the trade and assets of BTG Tax, the tax arm of Begbies Traynor Group.
Smith and Williamson expect to generate annual fee income of £180m on the back of the acquisition that will see it take on an additional 55 staff, including 12 partners.
The firm will now have about 300 tax professionals across all offices and generate income of about £40m from its tax business.
The incoming BTG Tax team includes private and corporate tax professionals mostly specialising in tax investigations consultancy and the sports, media and entertainment sectors.
Smith & Williamson’s Birmingham office will grow with 30 tax professionals to work with the organisation’s investment management team brining the total office workforce to more than 50 specialising in investment management and tax, pensions and financial planning.
It will also open an office in Manchester with a 13 member team offering private client, corporate tax and tax investigation services.