Make Changing Your Accountant As Simple As Changing A Lightbulb
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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
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
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
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.
About the Author
Jim Haines works for Just Accountants. UK businesses can receive up to 4
quotes from qualified
payroll companies just by filling in one form.
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Article Published/Sorted/Amended on Scopulus 2008-03-24 22:51:25 in Business Articles