I have a small practice, which has been going since 2018. Turnover is £50k, no employees and all clients are 'virtual'. It comprises broadly of:
- one client for whom I do all bookkeeping, including bank payments
- a small number of clients for whom I check and submit quarterly VAT returns, and prepare annual company accounts.
- a number of clients for whom I just prepare annual company accounts, and charge once a year when I do the accounts. All bar one or two are FRS 105.
- a number of clients for whom I just prepare annual self-assessment returns. Some of these need quite a bit of tax knowledge - e.g. statutory residence test, employee shares, pension rules.
I'm planning to close down the practice after the next self-assessment deadline (so hopefully by end Jan 2023), and wondered whether anyone would be interested in my clients.
The way I would envisage any transfer is simply that I would offer to put my clients in touch with you, you could quote them whatever you like, and if they come to you a referral fee would be payable to me. So no payment for any clients who you don't get, and also no obligation to take any clients you don't want. Some of my clients are pretty rubbish, and I charge them too little (I can simply tell these that I'm closing down and they need to find another accountant). On the other hand, some are very decent clients. It's no problem to pass on chunks of clients - e.g. just the tax return clients or just the accounts clients.
I'm ICAEW and CIOT qualified. My accounting clients generally require little specialist knowledge, some of the tax return clients do need tax knowledge. I'm happy to chat to anyone who's interested, so if you are please do PM me then we could set up a video call. Basically I'm looking to find a good home I can direct clients to, and hopefully to get something for them as well.
Replies (16)
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Yep broker is probably best option , you sound very reasonable so should have no problem...Happy retirement from this cr#p
Another vote for using a broker, having bought twice, once with a broker and once with someone giving them the option of moving over, I'd use a broker every time.
Much smoother transaction, easy for everyone and those that don't come across your agreed clawback position will adjust the proceeds
OP says "all clients are 'virtual'" - which I hope means they are scattered across unrelated locations (and not that they don't really exist)!
Hi,
Please DM me at [email protected]
I am keen to have a chat with you regarding this.
Thanks
Tomal
Hi , like to explore the opportunity . Email me at [email protected]. My firm has a track record of similar acquisitions ensuring win win for clients and vendors. Many thanks
Hi , like to explore the opportunity . Email me at [email protected]. My firm has a track record of similar acquisitions ensuring win win for clients and vendors. Many thanks
Hi,
Please count me in. I run an accountancy practice in Bristol and my clients are from all over the UK. Please get in touch with me.