Changing accountants is much easier than most accountants would have you believe. Wonder why that is? As accountants we wanted to let you into this mystery and show you how easy it is to change accountants. We have detailed below what steps you need to follow to change accountants and what information you need to give to your old and new accountants.
Please think very carefully about the process you are about to embark on and why you are making the decision to change accountants. Is your new accountant going to cover all of the areas that your old accountant obviously let you down in? Have you asked your new accountant all of the questions you need to and been honest with them about your issues with your old accountant or business situation? Most importantly of all if you are changing accountants be wary of the timing i.e. do not move accountants in January unless your personal tax return has been filed.
Accountants Leaving Letter
First of all you must notify your existing accountant of your intention to leave in writing. Download our Accountants Leaving Letter template.
Professional Clearance Letter
Once you have notified your new accountant that the Accountants Leaving Letter has been sent your new accountant must send a letter to your existing accountant to request professional clearance and request handover of the paperwork and documents they will need in order to carry out the duties they have been engaged for. Your existing accountant will handover to the new accountant provided there is no professional reason not to. Most accountants will drag their heels here especially if you have outstanding fees.
Money Laundering Checks
You will be required to provide your new accountant with documentation which will allow them to complete their money laundering checks. Your accountant should not work for you until the money laundering checks have been carried out. In a normal situation this will consist of photographic ID and confirmation of address but each accountants internal procedures may vary.
Your new accountant should not complete work for you unless they have been engaged to do so and this will take the form of an engagement letter which sets out the basis of both parties responsibilities. It is important you read these documents before signing as they set out the roles and responsibilities of accountants and customer.
Smart Accountancy Systems New Customer Set Up
All new customers are issued with a Welcome Pack which details the stages to be completed and who is responsible for them. Using our Practice Management software we will keep you up to date and issue you reminders should we be missing stages. Within the Welcome Pack you will receive a schedule of services so you can double check our understanding of the jobs you wish us to undertake. We also provide details on all forms of communication we use so you can sign up to our newsletter and connect with us on the various social media platforms we use.
Should you wish to receive any further information about our services please contact us.