Are you thinking it might be time to make a change and get a new accountant?
We often get asked the question "How hard is it to change accountants?"
The answer is "Very easy"
But first lets run through the considerations and process
Considerations
Are you on a fixed fee arrangement?
If you are on a fixed fee with your current accountant it might change the timing of your change. The fixed fee arrangement means you are paying for part of your year end compliance in advance. It might make sense to co-ordinate the change of accountants at the end of a financial year. Here at Evolve Accounting we consider this with any new clients and won't enact a change until the timing is right. This doesn't mean of course that we can't continue to have conversation and engage with you on any advice you need throughout the intervening period.
Are your affairs in order
So often we hear of old company's that have been left languishing and not tidied up. There can be two reasons for this, firstly, and the most common is that the current accountant isn't sure of how to conclude all matters or secondly there are matters for you to attend to. Either way we can work out with you where these are at and the best way to bring things to a close, sometime this can involve leaving these entities with the prior accountant because of the history they have of these affairs to bring matters to a close. Other times it just needs action, and we are happy to take that action.
Process
You will need to decide whether you want to advise your prior accountant that you are changing or whether you want us to.
As registered Chartered Accountants we are required under our rules to write to the prior accountant informing them of the change, and they are required to respond to confirm of the change and if they have any concerns. On the basis that your fees are up to date with the prior accountant they will hand over
- Copies of the last set of financial statements and tax returns
- Company minute book if they were acting as the registered office
- Arrange for any software subscriptions you have with them such as Xero to be assigned to us
Whilst it is possible, the industry norm is that there are no costs incurred from the prior accountant for the change over. As professionals we understand the clients right to choose whom they work with.
It’s as simple as that! We will inform the Inland Revenue of the change and things continue on as normal. To be honest there is very little disruption
What’s holding you back? Get in contact