Over the last few years there has been a steady increase in the change of ownership of PTEs. There are several reasons for this trend. The original owners have reached an age where they feel they have done enough and want to retire. Or the original owners have found the increasing compliance burden outweighs the rewards they previously enjoyed; sense of fulfilment and/or financial. Or an offer has been received from one of the large organisations that have steadily been building groups of PTEs with the object of spreading the cost of doing business across a wider income base.
Whatever the reason for the sale, the purchaser should undertake due diligence to ensure that the hoped for benefits will be achieved. There is however evidence that due diligence has failed several times to uncover problems that may or may not have been known to the vendor. Certainly an accountant and a lawyer can analyse and evaluate a business from their own perspective but, it seems, an understanding of the wider range of factors that affect the future viability of a PTE has often been missing.
This is where I can provide a knowledgeable and independent report.