The How to buy and sell an accountancy practice

Available on these dates:

Code	Notes	Venue	Lecturer	Date	Time	Price	Qty
SM2811C	Limited places available - 4 presenters	Wilmslow	Alan Taylor	28/11/2012	9:00 am to 5:00 pm	£169.00

You can book this course by using the booking form above. The booking will be confirmed by e-mail.

Course contents

Session 1 - Alan Taylor 9.00am to 10.30am Buying and selling a practice The marketplace: Practice size distribution – Demographics – Challenges for all practices – Economic trends – Practice growth – Regulatory burden – Availability of finance


Preparation for sale or purchase So what are you buying or selling? – Timescales involved – The key drivers – All about profit – Action to reduce lockup – A practice makeover kit


Strategic pros and cons Valuation methods: Multiples of fees – Multiples of profits – Multiples of super profits – The risk factors – Due diligence – Financing it – Contracts


Practical considerations Defining GRF – Agreeing multiples – Payment period – Continuity consultancy – Clawback arrangements – Aligning working methods – Informing staff – Informing clients


Avoiding/solving possible problem issues Use appropriate professional support – Confidentiality – Poaching clients and or staff: By exiting members of personnel or by potential purchasers – Indemnities – Hold harmless – Arbitration – Restrictive covenants

Other common concerns The practice name – Transfer of undertaking regulations – Client files – Regulatory considerations


Session 2 - Louise Dunford 11.00am to 12.00pm The legal aspects Employment aspects – Redundancy – Taking over existing employee contracts – Drafting the sale agreement – Problem areas: clawback – Warranties - Getting the contracts right


Session 3 - Bank Manager 12.00pm to 12.30pm What the lender is looking for This session explores what funding might be available in a practice purchase. It looks at current lending conditions and critieria. What the bank will and won’t lend. How the seller can help the buyer. Will banks lend on goodwill alone?


Session 4 - Alan Taylor 1.30pm to 3.00pm Succession planning Identifying your needs (or the what, why, when, who and how) – Professional services – Geography – Client niche – The wish-list: developed by you and your partners Health – Wealth – Happiness

Selecting the best option for you Internal succession: Home grown or Bought in – External sale – Merger (or is it a sale by another name)

Alternative approaches Downsizing – Strategic alliances – An investment approach

The 3 essential requirements Deliver a realistic solution – Be fit for purpose – Work right first time

Preparing the ground The available timeframe – Identifying the risks – How many partners do you really need? – Enhancing profits – Developing your staff into partners

Practical tips for making it happen Adopting a commercial view – A quick look at Practice Governance: Practice structure and form / Leadership / Decision making – Sharing common objectives with your fellow partners – Make yourself surplus to requirements

Session 5 - Michelle Malone 3.15pm to 4.00pm Consideration of tax aspects CGT: Are you eligible for Entrepreneur’s relief – Tax treatment of purchased goodwill – Impact on CGT of clawbacks – Income tax cessation rules time to use the overlap relief? – Stock and work in progress – VAT implications – The partnership building

Session 6 - Margaret Zuppinger 4.00pm to 5.00pm How to negotiate the best deal The 5 Phases of the Negotiation Process – The profile of the skilled negotiator – Strategies for effective preparation & anticipating pitfalls – 6 key influencing strategies – How to add appeal to your offer without adding cost – Are you ready to negotiate? - Your check lists – How to remain focused and be resilient whilst negotiating – An explanation of the chain reaction of communication: what you say & how you say it – How understanding their position will strengthen yours – How effective questions are the key to effective negotiation – How to ensure the deal you think you have is the deal you actually have