Category Archive

Draper Hinks has had a good year.  We can finally say we have bounced back from the effects of Covid where we lost over 85% of our business overnight.  Things are looking much brighter.  My main observations as to what trends are becoming more prominent are several.  We are still working with vendors that have paper-based practices.  This is something …

When putting in an offer there are rules of thumb. Nothing is set in stone but having worked in this field for over 20 years, I have some experience of what is to be expected. If the vendor is selling fees of under £100,000 then I would expect the buyer to put in an offer where there are two payments.  …

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 …

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 …

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, …

If you are thinking of selling your accountancy practice or are thinking of buying an accountancy practice, here are some of the most asked questions by clients post sale.  You will need to know the answers to ALL of them:- These are actual questions that clients have asked post completion. You will need the answers.  Remember when an accountancy practice …

I am going to talk about two different scenarios here.  First scenario is where we had a vendor contact us who said he didn’t think his practice was worth anything and after the tax returns had all been done by the end of January this year i.e. Feb 2024, he was going to contact all of his clients and let …

This is a case study from a practice we sold in 2023 Fees sold £ 328,500 Where Birmingham Qualified FCA Age 67 Time scale 5 months Type of Practice Sole Practitioner  Payment Three tranches How paid 40%  30%  30% Multiple 1 x fees When paid Comp, 12 mths and 24 mths Offers 2 offers Office & staff Office and staff …

The best people to ask are those vendors who have used the services of Draper Hinks.   We would like to share with you some of their answers:- We could not have said it better than our vendors.  Using a broker just makes sense. If you want to have a no obligation chat, in confidence, about your own personal situation then …