Changing accountants shouldn’t be difficult, time-consuming or stressful – the process can be carried out in 7 simple stress-free steps.
An initial meeting with your new accountant enables you to go through your affairs together, and get to know each other. You need to trust in, and rely on, your accountant so it’s important they know and understand your business as thoroughly as possible from the outset.
During this meeting you can discuss tax savings that will be addressed as future savings – it’s something you’ll want to be aware of and crucial for forecasting ahead.
From your initial meeting, your accountant will be able to provide you with a quote for their services. You must sign and return the quote for the switching process to go ahead.
Your new accountant will register you, as their client, with HMRC – this enables them to contact HMRC and speak to them on your behalf. Once you receive your letter from HMRC confirming the changes, you can forward this on to your new accountant.
If there are any tax savings measures that can be made to benefit your business, your accountant will enact these for you.
Your new accountant will contact your previous accountant to send over all information, accounts and tax returns related to your business.
Your new accountant will request any information needed for returns to ensure your accounts are up-to-date and in order.
All communications with HMRC, and responsibility for retrieving all relevant previous records, should be taken care of by your accountant so that you don’t have to. A surprisingly easy process, it’s in place to help you find the right accountant that will benefit you and your business best.
If you’d like to discuss in detail the process of changing accountants, contact us for an informal, no-obligation chat – we’d be very happy to help.