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Veterinary

Our specialist team has over 30 years’ experience in the veterinary sector. We have an understanding of every type of practice and work closely with independent vets, helping to start, support, grow and sell successful practices.

In our people and partners, you’ll have access to sector, tax and financial planning expertise that’s hard to match. Our advisers become part of your team and are as invested in your financial wellbeing as you are.

Meet the team

Working together

By working closely with our clients over many years, we’ve developed a high level of sector expertise. We understand every type of veterinary practice, have all the accountancy qualifications you need and can handle all the ‘technical’ elements of your requirements without any fuss.

Where many accountancy firms offer conventional compliance-based services, we go far beyond and can help you with improving your service, increasing your profits and reducing your costs. We’re also members of sector organisations such as SPVS and VMG, which enables us to anticipate developments in the sector and provide proactive advice.

How can we help you?

Setting up a practice

Whatever type of practice you are considering setting up, we can help develop a plan including financial projections, and support you through to opening and beyond.

Supporting independent practices

Supporting practice owners and managers with accounts preparation, tax planning and compliance, structure advice, benchmarking, profitably and business plans.

 

Buying & selling a practice

If you are looking to buy or sell a veterinary practice, we can support throughout the whole process.

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Case studies

Background: The owners of an established veterinary practice required advice regarding succession planning. The shareholders had started to think about their exit strategy and although they had not ruled out a sale to a corporate at a future date, they were keen for the practice to remain independent in the medium term as they had some key employees who they wanted to make shareholders. 

How we helped: We provided practical advice which included:

  • Valuation of the practice
  • Consideration of affordability for the new shareholders (key employees)
  • Discussions around funding
  • Capital gains tax advice for the existing shareholders
  • Advice regarding an anti-embarrassment clause (this clause ‘makes fair’ any consideration should there be a sale to a corporate within a certain time frame post sale to the new shareholders)
  • Liaising with the solicitors advising on the legal agreements including an updated shareholders agreement
  • Tax efficient remuneration planning to include the new shareholders.

The outcome:  The existing shareholders were able to bring new owners into the business, realising some cash, but having left their future options open as regards a corporate sale with some protection over the goodwill value they have sold to the new shareholders.

Background: A client approached us to assist in helping them put into place some KPIs for them to monitor and improve practice performance.

How we helped: We worked with our client to identify the 5 most worthwhile KPIs to track for them and their practice. We used this information to provide a quarterly report as a visual aid which demonstrated trends and where further improvements were needed. We suggested the practice owners work with their team, through better communication of the practice goals and mentoring, to ensure the team were aware of the KPIs and improvements required.

The outcome: The practice is more profitable and the team are feeling happier as they are more aligned with the goals of the practice.

Background: A long standing client was undecided about whether or not to make the leap and purchase a CT scanner for the practice.

How we helped: We produced some projections, which took into account the initial outlay, future costs and expected income of putting this into place. We also helped guide on how best to fund the new project. This allowed the practice make an informed decision on whether or not to purchase a CT scanner and the potential new income stream this could generate, including when the CT scanner might start paying for itself.

The outcome: Our client now has a CT scanner successfully in place which is proving to be great for the practice’s team development and for client care, as well as improving the practice’s profits.

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