How Making Tax Digital is affecting the market place

We have had a significant increase in the number of enquiries from accountants looking to sell their accountancy practices before the start of making tax digital in 2018. February is a busy time of year for us because vendors do not want to have to do another January. This leads to a spate of enquiries and us marketing many practices …

A round up of the year – 2016

This has been a strange year for the buying and selling of accountancy practices. At the beginning of the year we had a number of vendors looking to sell their accountancy practices but, for the first time ever, we were unable to find any buyers. In the 12 years I have been selling accountancy fees I have never know the …

Things a buyer will look at when considering buying an accountancy practice

Any buyer looking at buying accountancy fees is looking to minimise the risk and maximise the retention.  Any perceived risk will have a downward pressure on the amount offered to the seller of the accountancy fees by the buyer.  There are many things that a buyer will take into consideration when considering putting in an offer for an accountancy practice.  …

Seven ways to work smarter, not harder

Julia Leask is a “change enabler” and helps business owners to get the best returns from running their own businesses. She is a Chartered Management Accountant and trainer with over 25 years’ experience working for and with a broad range of sectors.  The last five years have been specifically dedicated to working with SMEs.  She has been invited by Nicola …

Managing the expectations of the vendor when selling their accountancy practice

At Draper Hinks we have been selling accountancy practices for well over a decade now and have successfully sold over 140 practices/tranches of fees.  We have been asked to sell all types of accountancy practices and it is our job to find a buyer for our vendors.  In theory, this sounds quite straightforward but it is often fraught with problems.  …

Why haven’t you sold your practice?

REASONS GIVEN BY VENDORS AS TO WHY THEY HAVE NOT SOLD THEIR PRACTICE. Draper Hinks has been selling accountancy practices for many years and has had a lot of successful completions. The time taken to sell a practice will depend on many things but you can reduce it down to the following important factors:- • Turnover of the practice. • …