Changing Your Small Business Accountant in 10 Easy Steps

There are many reasons why you may be thinking about changing your accountant, and this blog is here to tell you how simple it is to do so. Your current accountant may be unable to answer your questions, or they may not be able to cope with the workload you give them. Changing your accountant doesn’t have to be stressful; just follow these ten easy steps.

1- Schedule a Meeting

Always have an initial consultation with your prospective accountant and take your most recent accounts with you, along with your tax return. Having a good relationship with your accountant is very important, and it’s equally as important to trust them.

2- Contact Your Existing Accountant

Write to your current accountant and explain that you are moving to a different accountancy firm, and include the notice period within the letter/email. ALWAYS do this in writing. In this letter, you should ask them to pass on all of your information to your new accountant.

3- Check Where You Are In The Tax Year

It would make it easier if you decided to change accountants at the end of the tax year. If your current accountant is working through our tax-return already, they are within their rights to charge you for it.

4- Register With Your New Accountant

Your new accountant will probably send you a registration form to fill out any information they need from you.

5- Gather Your Documents

Your accountant is legally obliged to carry out an anti-money laundering check on you, and you will have to provide them with the correct information. Different firms will ask for different things, but they generally include a photo ID, DOB, UTR tax code/reference/ NI number, company number, or the authentication code from Companies House.

6- Authorisation

You will need to sign a 64-8 form to authorise your new accountant to deal with HMRC on your behalf.

7- Business Address

Some businesses choose to have their accountant’s firm as their company’s address; if this is how you have done it, then you need to change it.

8- Letter Of Engagement

Your new accountant will send you a Letter of Engagement, which sets out the expectations and requirements of both parties.

9- Professional Clearance

Your new accountant will write to your current accountant, requesting copies of your accounts and tax records.

10- Make Sure That You Are Happy

After a few weeks, everything should be in place with your new accountant, but if there is anything that you are concerned about, or not happy about, then you should address the issue as soon as possible. A good accountant will always try to resolve any problems as soon as they can.

If you are looking for a new accountant, get in touch today to discuss what we can do for you and your business.