Make Changing Your Accountant As Simple As Changing A Lightbulb

Make Changing Your Accountant As Simple As Changing A Lightbulb
Many businesses may not be completely happy with their
current accountant, but fear changing because it seems like
a lot of work, extra expense and irritation. However, if
your accountants are not doing the job you are paying them
for, then changing is your only realistic option.

Here are our top tips that are sure to make changing your
accountants as simple as it can possibly be:

1) Only Use Chartered or Otherwise Qualified Accountants

If your new accountant and your existing one are both
chartered and members of the Institute of Chartered
Accountants or another professional body such as the ACCA,
then they are bound by the rules of those organisations to
act in a particular way.

This means your existing accountant will have to hand over
your case and any papers belonging to you within a
reasonable time.

2) Changeover or Handover Fees

Members of the Institute of Chartered Accountants and ACCA
are required to provide these documents without charge, so
there should be no handover fees charged by your existing
accountant.

3) Your New Accountant Should Take Care of Requesting The
Right Information

Through an initial discussion with your new accountancy
firm, they should be in a position to request all the
relevant information from your existing accountant. They
will write directly to your existing accountant to collect
the documents. This is NOT something you need to do
yourself.

The types of information requested may include your latest
accounts, bank reconciliation statements, copies of the
last P35 and P11D, copies of VAT returns, payroll
documents, copies of the last annual return and so on.

4) Your Responsibilities

If your new accountants are providing services that your
previous accountant did not, then there may be information
within your own office that you need to pass on to your
accountants.

Your new accountants will be able to provide you with a
checklist of information you need to provide them to make
this step as straightforward as possible.

5) Resolving Or Dealing With Disputes

One of the reasons you may be changing accountants is
because you have a dispute with them over fees.

A dispute of this nature alone should not be a sufficient
reason for your existing accountant to refuse to hand over
information to your new accountant. They may, however,
advise your new accountant of the dispute.

In the normal course of things, such disputes should not
affect the transfer of information from one accountant to
another. If, however, problems do occur, then filing a
complaint - or threatening to file a complaint - with their
professional body usually helps to resolve matters.

6) What To Do If Your Existing Accountant Is No Longer
Trading or Out of Business

If your existing accountant has gone out of business, it
may still be possible to obtain the necessary paperwork and
information from them. However, in circumstances where this
is impossible, then your new accountant should still be
able to take over the account without any problems.

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Jim Haines works for Just Accountants. UK businesses can
receive up to 4 quotes from qualified accountants just by
filling in one form. Visit http://www.justaccountants.co.uk
for details.