There has been talk of increased merger activity in the UK accountancy sector over the coming years. Indeed, many smaller- and medium-sized firms see merging as one route for them to grow and thrive. But this is no easy route. So what should firms consider when they get the urge to merge? Richard Tumor, partner at law firm Maurice Tumor Gardner LLP, says: 'For accountancy practices, the two entities merging are likely to be partnerships or LLPs. If they're both LLPs, then either one will transfer its business to the other, or both transfer to a new LLP that's been set up to receive and merge both businesses.
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