Readers’ forum: A new venture

For the past two years I have been carrying out some tax consultancy work for a local firm of accountants dealing with compliance and planning for some of their clients and invoice for that work on an hourly basis. I am self-employed and have my own professional indemnity insurance. I also have a few of my own clients and occasionally carry out one-off assignments for other firms.

Since working for this firm I have got to know one of the accountants who prepares the clients’ business accounts. The two of us have been thinking about setting up our own practice and we have identified some suitable premises and have drawn up a business plan and cashflow forecast.

My concern is where we stand professionally with regards to the clients of this firm. I would not want to acquire a bad reputation for poaching clients but naturally we...