Selling your practice is one of the biggest decisions you will make. You will be keen to maximise the sale proceeds but may also be keen to ensure the firm you have built and the staff you employ are in safe hands post sale.

The sale process can be a difficult process and expert advice at each stage is important.

We can assist you throughout the sale, in particular in the following areas:

• Valuing your practice
• Identifying potential buyers
• Marketing the firm for sale
• Negotiating with purchasers and their advisors
• Ensuring the sale is enacted tax efficiently

Do you have a formal succession plan in place? If not, why not?

You may have built up your practice over many years so it is important to ensure that, when the time comes, you will realise your share of its full potential.

Every practice is different and all partners involved in each firm are different too. Therefore, there is no simple solution to formulating a successful plan for the future.

In building rapport with our clients and adopting a proactive approach to succession planning, we can help you tackle this issue and achieve your personal and financial objectives.

Are you looking to sell your practice?

Are you considering buying a practice?

Are you disputing the value of your practice with one or all of your partners?

In all these, and other, circumstances a professionally prepared valuation of your firm can save you a considerable amount of money.

At Styles and Co we have a specialist corporate finance team who have the knowledge and skills to assist you to value your firm for whatever purpose.

If you have decided to exit your practice, you will be happier in the knowledge that you are realising your share of its full potential.

By effectively preparing your firm for sale, you probably will add considerably to its ultimate value.

We can typically help you in the following areas:

• Ensuring the practice does not rely on the outgoing management
• Maximising profitability whilst eliminating those areas which generate inadequate return
• Formalising relationships with key suppliers and clients
• Bringing key employees into the management team
• Ensuring the firm owns assets it uses but not those which are surplus
• Where possible, conclude outstanding disputes and tax issues

When you sell your practice, you will want to know that you are paying as little tax as possible.

Often, when practices are sold, there are large tax liabilities arising from the transaction. It may be possible to reduce these liabilities or defer them.

At Styles and Co we have a team of tax consultants who specialise in advising clients in the complex area of transactional tax.