Looking to switch accountants? It’s easier than you think. We’ve put together the guidelines below to help you make the move smoothly.
Step 1: Ensure outstanding fees are paid. Once you decide to switch accountants, make sure that you have discharged your responsibilities to your current accountant and paid all outstanding invoices.
Step 2: Inform your accountant of your intentions. You will need to inform your current accountant that you are planning to switch and that they have your permission to provide your new accountant with your financial information. At BW Accounting Solutions, we can help you draft a suitable letter to notify your accountant.
Step 3: Expect due diligence from your new accountant. This is a professional formality and does not normally present any problems. If you choose us, BW Accounting Solutions will write to your current accountant, asking if there is any reason why we cannot take you on as a client. The information we request includes up-to-date accounts and tax returns, and payroll and VAT details. Providing there are no issues, your current accountant should then send all requested information to us within a reasonable time frame.
Step 4: Authorise your new accountant to manage your finances. The final stage is to assign authority to us for your tax affairs. This means that BW Accounting Solutions is authorised to file personal tax and partnership returns, as well as handle matters concerning limited company tax and Companies House.
Unless there are issues to resolve, this process generally takes 3-4 weeks. Once each step is complete, we can begin managing your accounts straightaway.
We recommend that you prioritise Companies House or HMRC deadlines before switching accountants. If the procedure is not completed in time, we will not have the authority to manage your taxes and this could lead to penalties.
We are happy to advise you on switching to us smoothly without risking delays and penalties. Call us on 01204 243322 or email at firstname.lastname@example.org.