Making the accountant switch

Changing accountants is straightforward...choosing the right one is the key!

Whilst a lot of small businesses out there are perfectly happy with their accountant there are others who feel let down by the service they receive...missed deadlines, lack of information, difficult to contact...the list goes on!

If you are in this position, then the good news is that switching accountant is easy.

But firstly, lets look at the 5 key things you should look for when choosing a new accountant:

1. Quick out of the blocks – How long does it take for them to get back to your initial query? If they are slow getting back to a potential new client, then will they be responsive when you need information relevant to your business?
2. Easy to understand – When people talk in jargon it is often to cover up the fact that they don’t fully know what they are talking about themselves!! A good accountant should be able to explain in simple terms what you need to know about your business performance and filing deadlines
3. Trust – Small business owners constantly have their plates full and worrying about meeting tax deadlines should not be added to their list. You should have complete trust that your accountant will ensure that you meet you filing obligations on time, every time!
4. Value for money – A good accountant can be one of the greatest assets you can have for your business. Someone who understands your needs and will help your business to grow. Going with the cheapest option does not always represent the best value for money.
5. Moving with the times – Using cutting edge software like Receipt Bank and Surf Accounts can make the process of producing relevant, accurate and up to date information on your business performance easy. You need an accountant who is comfortable with using these types of software to help monitor your business performance efficiently.

Once you have made your choice your new accountant will send a letter to your old accountant advising them that you have decided to switch and requesting some basic financial documents and information from them.

Your old accountant should confirm that they have no problem with the switch and will provide the new accountant with the necessary information.

You may want to contact the old accountant yourself as a courtesy to say that you are switching but other than that the switch over process is completed between the two accountants.

Date published 30 Jan 2019

This article is intended to inform rather than advise and is based on legislation and practice at the time. Taxpayer’s circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this article, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.