This is a case study from a practice we sold in 2023 Fees sold £ 64,700 Where Gloucestershire Qualified QBE Age 59 Time scale 4 months Type of Practice Sole Practitioner Payment Two tranches How paid 50% & 50% Multiple 0.95x fees When paid Comp and 12 months Offers 3 offers Office & staff No office and no staff Results …
Nicola Draper founder Draper Hinks At Draper Hinks we have a team of people dedicated to doing a really good job for our clients. We are a transactional business. When we get a practice for sale we sell it. That is why you do not see long lists of firms for sale on our website, we have sold them! …
Nicola Draper founder Draper Hinks At Draper Hinks we only deal with accountants in practice and have sold many hundreds of practices. We still come across scenarios that we have not seen before because we find that accountants can be very creative when it comes to numbers and how to structure a deal. We have been known to advise …
Details of a deal done in 2023 Fees sold £111,360 Where Tamworth Qualified FMAAT Age 72 Time scale 3 months Type of Practice Sole Practitioner Payment 2 tranches How paid 50% & 50% Multiple 1 x fees When paid Completion and 12 months Offers 4 offers Office & staff No office and one subcontractor Results Vendor decided to do some …
Are you VAT registered? Are you close to the threshold? What should you do? The VAT threshold for 2024 is £90,000 (up from £85,000). The government announced this increase in the Spring Budget, with the new threshold coming in from 1 April 2024. The VAT registration threshold is set by HMRC every year – but it had remained unchanged since 2017-18 until increasing …
It is important that when you are thinking about selling your practice, you are as ready as you can be. That means collecting as much information as there is out there to get a good idea as to what the process is and what can be done to maximise the sale price for what you are selling. However, that is …
Nicola Draper founder Draper Hinks Looking to grow your accountancy practice? You have two options, either grow organically or buy some fees. Buying accountancy fees can entail buying a whole practice or buying a tranche of fees. We understand that buying fees can be the quickest way to build your practice but there are stages involved. If you have significant …
Nicola Draper founder Draper Hinks We facilitate the buying and selling of accountancy practices. We love what we do and we are good at it. Our vendors tell us they would be more than happy to recommend us to anyone thinking of selling. We have brokered many hundreds of deals and would welcome the opportunity to work with you …
Details of a deal done in 2023 First tranche of fees Fees sold £50,000 Where Birmingham Qualified FCCA Age 39 Time scale 2 months Type of Practice 3 Partner firm Payment 3 tranches How paid 30% 30% 30% Multiple 0.9 x fees When paid Completion, 12 months and 24 months Offers 2 offers Office & staff Fees unencumbered by staff …
This is a case study from a practice we sold recently Fees sold £ 76,000 Where Hampshire Qualified MAAT Age 72 Time scale 4 months Type of Practice Sole Practitioner Payment Three tranches How paid 50%, 25% & 25% Multiple 1.1 x fees When paid Comp, 12 mths and 24 mths Offers 3 offers Office & staff No office, …