An Ilkley-based accountancy firm has announced its new employee owned status as it marks 15 years in business.
TaxAssist Accountants, based on Leeds Road in Ilkley, is one of three branches founded by local husband and wife team David and Julia Forrester.
Established in 2007, the company now employs 13 staff with offices in Bingley and Keighley where they support more than 1,000 local clients with their tax, accounting, payroll and bookkeeping needs.
Employee owned status involves the transfer of business ownership to an Employee Ownership Trust where all employees are beneficiaries and have receive a share of the company’s profits. It is a model adopted by brands including the John Lewis Partnership, Aardvark Animations and Yorkshire’s global manufacturing giant Gripple.
Managing Director David Forrester said: “Employee ownership is becoming increasingly popular in the professional services sector so we are delighted to be taking the leap and creating a sustainable business which will continue to provide a rewarding place of work and an outstanding service to our clients, delivered by accountants who truly care.”
He added: “Our people are at the heart of the business we have nurtured and grown over 15 years and we are passionate about continuing to motivate, drive and energise our talented team.”
TaxAssist opened its Keighley office in 2007 followed by Ilkley in 2009 and Bingley in 2017. Priding itself on its client and staff relationships, it is a business which has employee development at its core with more than 60% of staff currently or having started as apprentices and 40% of staff serving more than 10 years with the company.
Senior Accountant Kathryn Utley said: “It’s exciting and motivating to become owners of our company. In a working world where so many businesses are struggling to attract and retain talent, TaxAssist is engaging us in the most transformational way possible and we’re all looking forward to the continued growth of the business through our collective strength and responsibility.”