In a rapidly evolving business environment, small and medium-sized accountancy practices need to continually adapt to client demands, regulatory changes and technological advances. Taking a structured, proactive approach to practice management not only improves your internal efficiency but also strengthens client relationships and enhances compliance.

Prioritising the fundamentals now can free up time to focus on long-term growth, innovation and higher-value advisory work as the year progresses.

Client management

A good starting point is tidying up your clients’ information and looking at your practice management, ensuring they are fit for purpose considering any changes that may have happened during the previous year.

Current clients:

• Ensure all engagement letters and consent forms for current clients are up to date and relevant for the services provided.
• Review your fee structure and check you are charging enough fees for the services you provide – very important. You may consider a fixed-fee structure unless you already have a robust credit control set up for your practice. 
• Review your client matrix to ensure you are only retaining the clients that match with your core business values, practice efficiency and profitability.

Ex-clients                                                                                      

• Remove services on the practice management system for clients you have ceased to act for and ensure that HMRC authorisations are deactivated for these clients. This ACCA article explains the disengagement process to adhere to for the avoidance of later disputes.
• Review Companies House register and if ex-clients are still using your address as their registered office, contact them and update accordingly.
• Check all records are returned and there are no unnecessary ones clogging up the storeroom. Further guidance is provided in our regulatory factsheets.
• Transfer information and legal ownership of, and rights of access to, books, files, working papers and other documents.

Assessing cyber risks

It will be worth considering any cyber risks associated with technology/software used by the practice and how to mitigate them. As some of the software is used and offered to clients, firms must adhere to all data protection policies to protect themselves. 

Read ACCA's guidance on managing cybersecurity

Review AML procedures                                

ACCA-supervised firms play a critical role in detecting and preventing money laundering and terrorist financing (MLTF). You need to ensure that you have reviewed your firm’s policies and procedures and they are all up to date with the changes that happened in the practice during the year. CCAB advises carrying out periodic reviews on your clients’ due diligence and keeping a record for any compliance visits.

ACCA's AML hub includes latest guidance, a suite of factsheets, coupled with a risk-assessment tool, 'know your client' form and training support which will ensure that you operate a robust system when dealing with clients – both at the onboarding stage and throughout your relationship.

The AML hub is also updated with a dedicated section that includes guidance on Authorised Corporate Service Provider (ACSP) and Identity Verification (IDV) services. It is a mandatory requirement for third-party agents to be registered as an ACSP to file on behalf of clients. Companies House has confirmed that all agents have to be registered as an ACSP by November 2026.

Year-end planning

Next on your list should be to start planning your March year-end company accounts. You should use discussions with clients as an opportunity to understand their business developments and identify tax-saving or planning opportunities before the deadlines. There were many key announcements made in the Autumn 2025 Budget which are coming in place from 6 April 2026; a summary can be found on our ACCA Budget hub.

As part of carrying out the year-end review for the current period, look back at prior periods and determine whether:

• All returns have been submitted and all tax payments made in time.
• Any claims and elections (repayment of s455 tax, roll-over relief for chargeable gains, R&D claim) should be made, varied or withdrawn in respect of active periods. An active period is up to the end of the amendment period, ie 12 months from the filing deadline.

Individual tax planning

A similar planning exercise can then be undertaken for high earner individual clients to optimise their personal tax positions:

• Check whether they wish to put extra money into their personal pension accounts to avoid paying higher taxes and to minimise the loss of their personal allowances. From 6 April 2027, most unused pension funds and death benefits will be included in a person's estate for Inheritance Tax (IHT) purposes as explained in this article with examples.
• Check whether pension could also be utilised for clients receiving child benefits, to reduce their child benefit tax charge or 30 hours tax-free childcare.
• For joint rental properties owned by civil partners or a husband and wife, see if they need advice in order to make some elections to transfer a larger share of their property to the other half to maximise the family tax savings; however, legal advice should be sought before any elections are made. Read more about property taxes in this factsheet
• Independent financial advice should be sought before making any financial commitments.
• Eligibility to claim marriage allowance. Where one spouse/civil partner is a basic rate taxpayer, and the other has income below the personal allowance, the latter can transfer 10% of their personal allowance to their spouse/civil partner resulting in tax relief of up to £252 in the current tax year.
• If your client can claim trading and property allowances. These are two separate £1,000 tax-free allowances available: one for trading and miscellaneous income, and another for income from property.
• If your client rents out part of their main residence, up to £7,500 of income from the letting will be tax-free if rent-a-room relief is claimed.
• If your client is aware of annual IHT-free gift allowance. It includes annual gifts of £3,000, small gifts of £250 per person as many as you care to make per tax year.

Practice growth

Finally, you should also think about how you want your practice to develop. What makes your firm stand out to clients, potential clients and employees and others you may wish to influence. You can find some useful top tips to drive business efficiency in an uncertain economic climate.

Leveraging ACCA’s guides and materials can help you refine your offer and promote your strengths.

Joining practitioner networks and engaging with peer groups may provide fresh ideas and support as you evolve your service proposition.

Remember you can take and use articles from In Practice and utilise ACCA guides and other support material to grow your own practice.