Abbey Protection trading subsidiary granted licence

Abbey Protection Group, the trading subsidiary of UK firm Abbey Protection, has been granted a licence to operate as an alternative business.

The licence, approved by the Solicitors Regulation Authority, will enable Abbey Protection Group (APG) to expand its legal services to clients under the Legal Services Act 2007, the company announced Wednesday.

Abbey Production, a specialist supplier of legal and professional fees and insurance products to UK enterprises, said APG will undergo a partial restructuring as part of the process to secure the licence.

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The licence is effective from January 1st, 2013 when trading divisions of Abbey Tax Protection and Accountax will be transferred from APG to form a wholly owned subsidiary under the name of Abbey Tax and Consultancy Services. Business will trade as divisions of Abbey Tax and Consultancy Services once the licence is in force.

Shares of Abbey Protection were rising by 2.25% at 103.75p on Wednesday.

RD