The process of changing your contractor accountant
If for whatever reason you have made the decision to change your contractor accountant, then there are a few steps you should take in order for the changeover to run as smoothly as possible. The aim is for you to continue with no interruption to your business.
Informing your existing accountant
Once you have found yourself a new accountant, you need to notify your existing accountant of your intention to change. They will prepare your information to hand over to the new accountant. If they are a Chartered, Certified or other professionally qualified accountant, they are bound by their regulatory body to provide this information in a co-operative and timely manner. If they are not regulated and ignore the request, there is no need to worry as information can be collected from HMRC and Companies House.
First steps for your new accountant
Your new accountant will contact your existing accountant to ask for professional clearance. They will also ensure that there is nothing that they should be aware of e.g. money laundering.
Copies of your previous accounts, tax returns and balances will be requested.
Timing of your switch
The timing of switching your accountant is something to be aware of as some accountancy firms will charge for catch up work. This often equates to the cost of their monthly service fee for the months since your last year end.
This blog has been prepared by Intouch Accounting. While we have made every attempt to ensure that the information contained in this blog has been obtained from reliable sources, Intouch is not responsible for any errors or omissions, or for the results obtained from the use of this information. This blog should not be used as a substitute for consultation with professional accounting advisers. If you have any specific queries, please contact Intouch Accounting.