Market Conditions

The last twelve months have proved very challenging for most businesses and the accountancy profession has not only had to steer their clients through the pandemic but has had to implement changes to their own working environment.  Added to this, there have been the ongoing shift towards making tax digital and increased levels of levels of legislation to the profession.  This in turn has led to growing practice running costs resulting in a number of practices considering their exit strategy.

During this time, Owens Professional has handled a good number of sales, ranging from £50,000 block of fees to a £600,000 two partner practice.  All have generated good buyer interest leading to completion.  The current market is still achieving multiples in line with pre-Covid levels of up to 1.1x fee income subject to clawback.  The multiples achieved depend on the profile of the practice.