How to change accountants

Changing accountants can be a very difficult decision.

Every year make a point of reviewing your relationship with your accountant. Your relationship with your accountant is integral to the success of your business.

Consider the following-

Is your accountant proactive?

You need an accountant that can advise you on the best way to progress your business, increase profits and expand. Are they proactive in ensuring you are paying the right tax and making savings where possible?

Are you being supported to use a cloud accounting platform?

With Making Tax Digital now implemented for VAT registered business and the full roll out on the horizon its vitally important you are using an online platform for your accounts.

Do you feel your accountant is friendly and approachable?

There is nothing worse than calling up your accountant with questions and being made to feel you should already know the answer! Ideally you need an accountant that is happy to answer any questions you may have and reassure you. You also want phone calls returned and emails answered within a sensible time limit!

If you feel you are not getting the service you require then it might be time for a change. You might feel it’s a very daunting but here are some tips to help you transition from one accountant to another without too much pain!

Find a recommended accountant.

The best place to start is among your network of connections and ask for a recommendation. If you don’t have a network, check out the trusted accountants listed at Handpicked Accountants. Or you can use Google to find an accountant in your area. Look for companies with recommendations online or check other social media platforms such as Facebook or LinkedIn and see what testimonials they have.

Arrange a meeting with a prospective new accountant

Before making a final decision arrange a meeting to disusss your accounts. Find out the costs, which online platform they are using and what support they can offer you.

Give notice to you existing accountant

Once you have decided send and email to your existing accountant advising them you are changing and give them the details of your new accountant.

Notify HMRC

You will need to notify HMRC of the change, some accountants will do this for you. Just check.

Register with your new accountant

They will require proof of I.D which is part of the law surrounding money laundering. They will also ask you to sign a form to allow them to deal with HMRC on your behalf. Your new accountant will also write to your existing accountant and ask them for any existing records and information. This is called professional clearance and they will also ask if there is any reason, they should not work with you! Sometimes accountants will charge a small fee for compiling the paperwork. An hour’s rate is reasonable.

If you experience problems

Changing accountants should be seamless. Problems can arise. This can be when fees are not paid which you may be disputing or consider unreasonable. If you cannot resolve this then you can contact the body your accountant is registered with.  Or you contact the fee arbitration officer at the the Institute of Chartered Accountants (ICAEW) who can help you settle a dispute.

If there are believed to be any accounting irregularities, you may also find problems switching accountants. Your existing accountant may discuss this with your new accountants.

There shouldn’t be any issues changing accountants if you are running your business correctly and have complied with all the relevant HMRC tax laws.

Speak to Spicer and Co!

We pride ourselves on ensuring our new clients have a seamless and stress free experience.

Part of our onboarding process is an initial meeting to discuss your requirements. Once you have decided that we are the right accountants for you we can arrange a further meeting if required. Our team will send you all the relevant paperwork and we will send you a welcome pack.