Matt Parrett and his team at the Tax Shop accountants are preparing to celebrate five successful years of business in the town next month.
Since Matt moved to Wellington from Kent in 2010 he has overseen the establishment and growth of the High Street Tax Shop and the opening of a second branch in Cullompton a year ago.
He started the Tax Shop accountants with just himself and 2 staff; he now employs 9 in Wellington and 3 in Cullompton. Having bought the building and converted the ground floor to “relaxed, comfortable office space that doesn’t intimidate like solicitors’ offices” he is now converting the first floor to create a board room.
He moved from Hythe to the South West where his wife has family connections and initially looked for “somewhere nice”. He said, “If you can find a place with a Waitrose they’ve done your market research for you!”
“We moved in a recession and the first year was relatively quiet. People were initially cautious but since then we’ve established ourselves and the business has grown apace,” he explained. “In the last year the graph has gone straight up! This is an ideal location – it’s central and has plenty of room. We publish all our base prices in the window and everything is fixed price. For higher prices we have 12 month payment plans available. Our customers now come to us from within a 30 mile radius as well as off the street.”
With 5 years of success behind him Matt is planning for more growth in the next 5 Years. Matt said, “Things are changing in the market place. Accounting is changing, tax is changing and we have to be in the forefront. Cloud accounting is the big thing at the moment and we’ve developed our own cloud accounting software in house which we’ll be rolling out soon so clients can upload receipts and bank statements to a drop box. We’ll be involved in more analysis of what clients have given us to give them more help with their businesses. And we’re already prepared to offer advice regarding the last budget’s changes and new pension regulations for small limited companies.”
Asked about the health of the local economy he said, “People here are starting businesses but it’s still hard work. Finance is difficult. But the High Street will change and Wetherspoons will help the town. I’m confident that in 5 years’ time the Tax Shop Accountants Wellington office will have doubled in size.”