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Event Details
Exiting from Practice

Exiting from Practice

£35.00 + VAT
Available
On Demand
All Locations
Practice
Sep
4
Wed
09:00
-
12:00 BST
Schedule Type Title: Weekdays
Schedule Description: The important aspects to consider ahead of an exit from practice.
Sessions: 1
Session Hours: 3.00
CPD hours: 3 hours
Zoom

Description

The important aspects to consider ahead of an exit from practice.

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  • Description
  • Programme
  • Speakers
  • Partners
Date and time Location
Recorded on 04/09/2024 Zoom

Event information

If you are considering exiting your practice in the next few years, planning is crucial. Whether you aim to secure a successful sale or understand the regulatory requirements for retirement, this event covers your key considerations. Hear from a broker and a specialist solicitor with extensive experience in assisting ICAEW members through the process, and learn from a member who has recently exited practice as they share their key insights.

Key benefits

  • Understand the regulatory requirements for exiting practice.
  • Hear key considerations for preparing your practice for a successful sale.
  • Learn from a member who has exited from practice.

CPD hours

ICAEW's revised Continuing Professional Development (CPD) Regulations bring in new CPD requirements. This includes a minimum number of hours and an ethics requirement. Attending this webinar could contribute up to 3 hours of verifiable CPD, providing you can demonstrate that the content is relevant to your role.

A copy of the webinar booking confirmation email is accepted as evidence of verifiable CPD. You will need to save the email as a JPEG or PDF before uploading it to your record. Click here to use ICAEW’s self-assessment tool to help you work out how much CPD you will need to fulfil each year.

Costs

RateCost
ICAEW MemberNo Charge
Non-Member£35.00 + VAT
Retired MemberNo Charge
Life MemberNo Charge
StudentNo Charge
Affiliate MembersNo Charge

ICAEW members and non-members are welcome to join. This event is organised by the Small Practitioner's Community. Please click here to join online.

FAQs

Should you experience any difficulties booking onto the event, please go to our events support page - how to book.

Disclaimer

The Institute of Chartered Accountants in England and Wales (ICAEW) does not endorse or recommend any third-party products, services, or companies mentioned during this event or in related materials. References to any such products, services, or companies are for informational purposes only and do not constitute an endorsement or recommendation by ICAEW.

The views and opinions expressed by third-party speakers are their own and do not necessarily reflect the views, positions, or policies of ICAEW. ICAEW does not assume any responsibility or liability for the accuracy, completeness, or legality of the content presented by third-party speakers.

For further information or clarification, please contact ICAEW directly.

ICAEW's terms and conditions for events

  • Event terms and conditions and privacy notice

Please note that the programme is subject to change

Time Session
09:00 Welcome
Roz Harrington, Senior Practice Manager, ICAEW
09:05 Regulatory considerations for exiting
Simone Taylor-Allkins, Technical Advisory Services Manager, ICAEW

Simone will discuss the practical and ethical implications of ceasing to practice, be it retiring from practice or closing your practice. Topics will include PC and PII requirements, handover of clients, document retention policies and considerations about your future.
10:00 Why do I need run off insurance?
Edward Partridge, Head of UK Affinity, Marsh

Join us to explore why it is necessary to keep a run-off policy in force after retirement or a practice sale to cover any claims that may arise in the future.
10:15 How do I prepare my practice for sale?
Nicola Draper, Managing Director, Draper Hinks
Rik Pancholi, Partner and Solicitor, Nelsons

Join this session to hear our speakers cover; what sellers want, what buyers expect, and getting "seller ready", as well as case studies and details on the legal structure and process.
11:00 Break
11:15 My experience of exiting – a member case study
Paul Clegg, ICAEW Member
11:40 Further support
Gareth Winters, Stakeholder Engagement Officer, caba
11:55 Closing comments
Roz Harrington, Senior Practice Manager, ICAEW
12:00 Close

 

About the speakers

 

Paul Clegg FCA
Paul began his career with a partnership in an accountancy firm aged 21, and later set up his own successful practice. He became president of an ICAEW District Society in 1977, and has lectured for the ICAEW and other bodies on a variety of subjects, principally in the investment business arena. His practice and commercial experience led him to become a Support member for ICAEW, a position which he still holds today.


Nicola Draper, Managing Director, Draper Hinks
Nicola was a partner in a fee-based Independent Financial Planning firm before setting up Draper Hinks Ltd. Nicola’s current role is Managing Director. Her office and team are based in Rugby in Warwickshire. Since its inception, Nicola has managed over 400 successful deals. From scratch, Nicola has built a very successful business with an enviable reputation.

Edward Partridge, Head of UK Affinity, Marsh
Edward is a seasoned insurance professional with over 23 years of experience in the industry. As Head of UK Affinity for Marsh, Edward’s passion is working closely with partners to understand the unique needs of their members. His focus on building strong relationships combined with his extensive experience and sector focus, make him a trusted advisor for both affinity groups and SMEs. Above all, Edward is dedicated to delivering member benefits and mutual growth through an honest and collaborative approach.


Rik Pancholi, Partner and Solicitor, Nelsons
Rik qualified as a solicitor in 2009 and joined Nelsons in November 2023. He specialises in corporate law services, including merges, acquisitions and disposals, and company formations and reorganisation, corporate restructuring/reorganisations, management buy-outs and buy-ins and shareholders' agreements. He has a particular specialism in accountancy practice sales and purchases.


Simone Taylor-Allkins, Technical Advisory Service Manager, ICAEW
After qualifying with a top 20 firm, Simone moved to Grant Thornton and worked with a diverse portfolio of manager-owned businesses in a varied role covering both audit engagements and management accountancy engagements. After 18 months in the audit and assurance team, she transferred to their national training centre in High Wycombe to train audit trainees for the firm. From 2007 to 2010, she decided to apply her skills to the education of non-financial managers working as a freelance finance trainer for worldwide blue chip companies. This eventually led her back to her technical roots in July 2010, joining the ICAEW Technical Advisory Service, helping fellow chartered accountants make sense of accountancy, audit, company law, anti-money laundering and ethical regulations.


Gareth Winters, Stakeholder Engagement Officer, caba
Gareth joined caba in 2019 and is part of the stakeholder engagement team, responsible for building and developing new and existing relationships for firms, businesses and the ICAEW. Gareth is also responsible for delivering presentations, raising awareness of the support available to ACA students/members and their close family.

Communication has always been a key role throughout Gareth's career and even started out in the world of performing arts, where he spent many years touring theatre productions and starring in short films.

Roz Harrington, Senior Practice Manager, ICAEW
An experienced engagement strategist and programme manager, Roz works to help practitioners succeed by providing them with access to skills, knowledge, and tools to service their clients across the business and wider community. Before joining ICAEW, Roz worked for a healthcare charity overseeing central operations for 35 hospitals across the UK.

Meet our partners

Draper Hinks was formed in 2000 by Nicola Draper and Chris Hinks as a Head Hunting firm for accountants in practice. In 2004 Chris Hinks retired. Nicola became the MD and changed the direction of the firm, moving into facilitating the selling and buying of accountancy practices. Draper Hinks Ltd is a brokerage dealing with both buyers and sellers in England and Wales. The firm has successfully brokered over 430 deals since inception.

Marsh is a world leading risk and insurance advisory specialist providing risk management, risk consulting, insurance broking, alternative risk financing, and insurance programme management services to the world’s leading companies, growing corporates and small to medium sized enterprises (SMEs). Marsh is the parent company of Marsh Commercial who has worked with ICAEW for over 14 years as a trusted Member Rewards Partner.


Nelsons was formed in 1983 by Tim Hastings and two other solicitors in a small Nottingham office. Since then we have grown to become one of the leading law firms in the East Midlands with offices in Derby, Leicester, and Nottingham, providing expert support and advice to businesses, individuals, and families with their legal and investment needs.

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