If you’re thinking about stepping back from running your own practice, it’s a big decision — and one that involves more than just handing over the keys. Typically, there are three key areas you’ll need to consider: timing, structure, and tax.
At PGM, we can guide you through each step, helping you plan a smooth transition that protects the value you’ve built, supports your future plans, and minimises unnecessary tax exposure. Whether you’re planning to retire, sell, or pass on the reins, we’re here to help you do it with confidence.
You’ll want to make sure your clients remain in good hands and continue to receive the high level of service they’ve come to expect.
At PGM, we can help you put the right structures in place to ensure continuity and care — whether you’re handing over to a trusted colleague, selling the practice, or bringing in new leadership.
You’ll want to ensure your clients continue receiving the same level of care and professionalism they’re accustomed to.
We can support you in creating a smooth handover process that protects those relationships, upholds your reputation, and gives you confidence that your clients remain well looked after as you step away.
You’ll want to secure the best possible return for the business you’ve built.
We can help you prepare your practice for sale — reviewing your financials, identifying opportunities to enhance value, and advising on the most tax-efficient route to a successful exit.
Check what the Principals of some firms have to say about the process having merged their practice into PGM.
May 2014
I merged my practice, Rafferty & Tohill Chartered Accountants, into PGM Chartered Accountants in May 2014.
As a sole practitioner it was nearly impossible to take holidays and time off and I found the regulatory burden getting heavier all the time. I also had a number of audit clients where I found it difficult to separate the accounting and audit work with the small staff I had available. A key member of my staff also wanted to retire at the time.
After several meetings with Paul McAreavey and visits to his offices to meet his team, I felt that merging my practice into PGM would be the best solution.
I have been made very welcome by Paul and his staff.
They are very professional and friendly, and I thoroughly enjoy working with them. I find working as part of a team much less stressful than always having to take responsibility for decisions and deadlines. I am now in a position where I can delegate and get some more time to think about what I want in the future.
PGM have excellent audit and tax teams, who can deal with any issues that arise for my clients on accounting, audit or tax issues, as well as providing advice on their businesses.
The firm is not standing still, as they are also looking ahead to future developments that will enhance the service provided to clients.
I certainly feel that I made a good decision in merging with PGM, both for myself and for my clients who will continue to get excellent and professional service.
February 2013
I was a partner in Higgins Graham Accountants which merged with PGM Chartered Accountants on 1 February 2013 as part of my planning for retirement.
In the last three years I have been made to feel most welcome and have enjoyed acting for my clients without the heavy regulatory burden associated with managing your own practice.
My portfolio of clients has also benefitted from the larger, professional and well qualified team with an in-house taxation department.
PGM has fully integrated computer systems which facilitate the efficient processing of client work.
There are current plans to further develop these systems to enable online processing of client data as we move towards a digital future.
The firm is well placed to provide the full range of audit, accountancy, taxation and advisory services to individuals and small and medium sized businesses in Northern Ireland and further afield.
I am satisfied that my former clients will be in very good hands with PGM Chartered Accountants.
accreditations
As an ICAEW Chartered Accountant, we are able to stay professionally competitive by undertaking some of the most advanced learning and continuing professional development programmes available. The ACA is respected in business, practice and the public sector across the world.
As a member of Chartered Accountants Ireland, we uphold the highest standards of integrity, professionalism, and financial expertise.
As a member of the CIOT we can offer the highest level of tax expertise available.