TaxAssist Direct Acquisitions Limited, a fully owned subsidiary of the TaxAssist Direct Group, has completed its first transaction, acquiring a majority stake in the largest TaxAssist Accountants franchisee practice in its network.

The deal was valued at £2m and the franchise was bought from owners Mike and Penny Melling. The operation has 21 staff and offices in Harpenden, St Albans, High Wycome and Beaconsfield.

Melling, while no longer be a TaxAssist Accountants franchisee, will continue to oversee these operations through his role as group chief operating officer on the TaxAssist Group board.