If you are thinking of selling your accountancy practice or are thinking of buying an accountancy practice, here are some of the questions most asked by clients post sale. You will need to know the answers to ALL of them:-
- Who do I phone when I have a question?
- Will I be charged more?
- What’s happening to the office?
- Who do I email?
- Will I have to submit my information in a different way?
- Will payroll continue to work in the same way?
- Do I have to change my Standing Order in any way?
- Where is the buyer’s office?
- Can I drop my records off to their office?
- How will my records at HMRC be affected?
- Who will keep all my paper records?
- What about the work that is going on at present?
- Can I still use the portal and see upcoming tax liabilities, deadlines and documents?
- I don’t know the person taking over, what if I don’t like them?
- Have you given them all my information without my permission?
- Who will chase me for my information?
- You are not just my accountant you are my friend. How can I work with a different accountant when you know so much about my business?
These are just some of the questions you will be asked by clients. You will need the answers. These questions and many more issues will be discussed between due diligence and completion. It is important that the buyer and the seller have the same answers to all these questions. Be warned that if a client is confused in any way, they will leave.
If you want to sell an accountancy practice or buy an accountancy practice please get in touch with me, Nicola Draper, on 01788 816440 or email me at email@example.com. Let me see how I can be of assistance. I look forward to talking to you.