Six-figure investment as tax advisory practice aims to be UK leader

A Leicester tax advisory practice says it is investing a six-figure sum in state-of-art technology in order to become the firm of choice for, businesses, high net worth individuals and intermediaries needing advice on tax matters.

Obsidian Tax, which was set up by Tom Moore and Faisal Sattar in late 2016, says that it is investing in virtual reality to keep in touch with its clients and contacts to make the work it undertakes “more efficient and effective”.

Sattar said: “We’ve been working on tools for collaboration that will help us doing our work in the best possible way. It’s incredible how much work we’re winning at present, and we need our team to have the best – we’re not sparing any expense to make ourselves the go-to tax advisory practice in the UK.”

Sattar also said Obsidian was in the process of buying its offices in New Street, Leicester, which will be undergoing a major fit-out and refurbishment.

He added: “We’re absolutely committed to Leicester city centre and we want to be part of the city. We think it’s a fantastic location. I’ve lived in Leicester since I was six, and Tom is Leicester born and bred. We want Leicester city centre to have a good mix, and not for all the buildings to be turned over to student accommodation.”

Sattar and Moore say they will create around 20 jobs over the next three years, and are in the process of agreeing packages with two highly experienced tax advisors from the Leicester professional services community.

“It’s been hard work often, since we set up,” says Sattar. “There have been lots of ups and downs and we’ve had people who didn’t quite fit in, but now I really do feel as though we’re building a vibrant team to meet the demand for our services.”