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Jenny
Jenny, Solicitor
Category: Law
Satisfied Customers: 6305
Experience:  Qualified Solicitor specialising in Employment Law and general legal matters. Please start your question For Jenny Only
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I OWN AN ACCOUNTANCY FIRM WHICH HAS BEEN ESTABLISHED

Resolved Question:

I OWN AN ACCOUNTANCY FIRM WHICH HAS BEEN ESTABLISHED FOR THIRTY THREE YEARS. TWO MONTHS AGO, AS I AM NOW SEVENTY SIX YEARS OLD I DECIDED TO GIFT THE FIRM TO THREE OF MY LONG SERVING LOYAL STAFF. DUE TO TWO OF MY STAFFS ACCOUNTANCY ASSOCIATIONS NOT ALLOWING THEM TO HAVE PRACTICE LICENCE UNTIL THEY ARE QUALIFIED IN APPROXIMATELY TWO YEARS TIME, THEY ARE UNABLE TO ACCEOT THR GIFT. HOWEVER THE THIRD MEMBER OF STAFF DOES NOT HAVE THIS RESTRICTION AND IS ABLE TO ACCEPT HER THIRD OF THE FIRM. CAN YOU ADVISE WHERE I GO FROM HERE. CAN I WITHDRAW MY OFFER? YOU WILL APPRECIATE AT MY AGE I DONT HAVE A GREAT MANY YEARS TO BE IN A STATE OF LIMBO.
Submitted: 1 year ago.
Category: Law
Expert:  Jenny replied 1 year ago.
Hello my name is ***** ***** I am happy to help you today. How was the offer made? Can you tell me what you propose to do as an alterantive?
Customer: replied 1 year ago.
The offer was made in writing to all three staff members. I do not know what to do now, only one staff member can accept and it is not my wish that she receives the firm in its entirety. I would like to know would it be legal and or practical, to withdraw the offer, until such times as all intended recipients are in a position to accept and me to continue the business as I have done since it was established.
Customer: replied 1 year ago.
Hi Jenny sorry about the delay, had to go out, did you receive my response? Trevor
Customer: replied 1 year ago.
waiting for a response
Expert:  Jenny replied 1 year ago.
Did you make the offer conditional on their having the qualification? When did you say it would take affect ? and finally did they take steps to accept the offer?
Customer: replied 1 year ago.
No, qualifications were never mentioned, I said it would take affect as soon as they could arrange a practicing licence. they have not taken any steps to accept the offer, other than to say thanks, ***** ***** a very generous person. Since we became aware of the accountancy associations stance, we have been in a state of Limbo. I am still funding and running the firm.
Expert:  Jenny replied 1 year ago.
Have you discussed the issue with them? If so what has been the response?
Customer: replied 1 year ago.
They seem to have been very negative, one of them however, although she is not able to get a licence, seems to be acting like the firm is hers. We have had several discussions relating to the problems in hand but unfortunately they just rely on me to make suggestions, they never come up with any themselves.
Expert:  Jenny replied 1 year ago.
How long have the 2 people involved worked with you for and how long would it take them to get the licence?
Customer: replied 1 year ago.
one has worked for me for nine tears the other for eight years. One is expected to qualify for a licence in approximately eighteen months the other about two years.
Expert:  Jenny replied 1 year ago.
If by law they are unable to take on the role that you have offered then you should write to them to say that you have made a mistake and that the offer was on the basis that they were able to take up the position and, clearly, now that they are not you cannot maintain the position.
When you transfer to the one partner they should retain their positions under TUPE laws.
The difficulty you may have is that they may attempt to take action against you, in breach of contract, for the loss of the value of the third of the business that they were offered. If they say that they intend to do this then I would suggest you take on specific legal advise on that point. You would be able to defend on the basis that it was 'impossible' for them to carry out the contract for reasons you were not aware of at the time, therefore no actual loss is suffered.
Jenny, Solicitor
Category: Law
Satisfied Customers: 6305
Experience: Qualified Solicitor specialising in Employment Law and general legal matters. Please start your question For Jenny Only
Jenny and other Law Specialists are ready to help you
Customer: replied 1 year ago.
Thank you very much

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