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AIA

Question of the Week: Breaking up an accountancy practice

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18th Apr 2007
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Partnerships can not last forever. We are interested in hearing your stories of how you managed the break up of an accountancy practice. How did you split your clients between partners? If you shared a workplace, how did you divide the premises? How did you separate the secretarial support? What was the effect on clients and employees and how did you fare after the break up? To tell us about your experiences you can post a comment below or e-mail: [email protected]

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By User deleted
19th Apr 2007 11:03

if it's not working
be realistic

When my last one broke up it took nine months of major trauma trying to compensate and adjust for intransigent attitudes, only to find that i was the one bounced out.

It then took another nine months of negotiations and substantial legal fees to sort the mess out because the partership agreement didn't reach two side of A4.

In hindsight it was the best thing that could have happened because in the separation process i found out how little my partners had been doing and how much income it had cost me.

What were the mistakes?
Not monitoring the practice, not addressing issues when they arose and not having an overall plan. But most expensive of all, not having a good partnership agreement.

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