Under what circumstances would you switch accountant? Would you look for an alternative if your needs weren’t being met? Of course meeting one person’s needs doesn’t guarantee that that any firm would meet someone else’s—you can’t please all of the people all of the time—but say you were a small business owner expecting the following, can you say categorically that your needs are being met with your current accountant?

• Is your current accountant available whenever you need to talk to him or her?
• Do you have a named account manager?
• If you call your accountant does your account manager call you back almost immediately, at least within the day, but more often within a couple of hours of calling?
• Do you get cloud bookkeeping and accounting software provided as part of your accountancy package?
• Are you satisfied that your accountant is the proactive tax-planning expert that you believed you’d signed up with?
• Is it guaranteed that you’ll never fall foul of a fine through professional negligence?
• Last but not least, do you benefit from weekend opening and evening meetings by appointment?

How do I switch from one accountant to another?

When transitioning to a new accountant, it is customary for the new accountant to submit the required documents to the former accountant for approval. This step is usually taken to maintain proper protocols and ensure a smooth transfer of clients.

The former accountant may inquire about the reasons for the client switch, primarily for formality purposes. Additionally, the new accountant may charge the contractor accountant an additional fee for the services rendered during this transition process.

Is it OK to change accountants?

Changing accountants is a straightforward process, contrary to the belief of some accountants. It can be accomplished easily and without consuming additional time. The procedure involves minimal complexity and can be completed quickly.

With the necessary documentation and communication, switching accountants can happen seamlessly. In most cases, the transition between accountants limited companies takes around one to two weeks, ensuring a smooth transfer of financial responsibilities.

Is it hard to switch accountants?

It can often be relatively inexpensive to make the switch to a financial planner from an accountant. Firstly try and get everything settled with the accountant. Maybe you can call or email them thank you in return and tell them about your new partnership with another business.

What is required to change accountants?

Once the firm has informed you of their decision to switch to an outgoing accounting firm, it is possible for you to sign a letter of commitment. In this letter, you can inquire the accountancy firm about the possibility of them sharing your financial information with their new accountant. This will enable the new accounting firm to have access to your financial data and ensure a smooth transition in the management of your accounts.

How do you tell your accountant you are leaving?

It is important to inform your accountant and grant them permission to communicate with the relevant parties regarding the letter of engagement paperwork. This allows them to effectively address any financial matters and provide necessary guidance.

Is it complicated to change accountants?

When considering changing accountants, it is advisable to initiate a friendly conversation with your previous accountant or current financial adviser. Reach out to them through a phone call or email if they value your business. Open communication will help streamline the transition process and ensure a smooth changeover.

Steps to Change Accountant

The accounting profession has a clear procedure in place for clients who decide to change accountants each financial year.

Give Notice: If you decided to change accountant for tax returns, write to existing accountant and give notice. A brief email should send with all the information and also include the new accountant in communication.

Professional Clearance: Once you have given notice your new accountant will write to your new firm and existing accountant to request professional clearance. This is part of due diligence procedures.

Due Diligence: All accountants operating under the compliance structure of an accounting body must conduct due diligence before taking on new clients.

Transfer of Records: When you are done with above procedures your existing accountant will transfer all the records to your new accountants. If your tax affairs and records are held electronically then this should happen quickly.

If you can answer yes to all of these things then maybe your needs are being met, which is fabulous! However, if the list above got you wondering and some of the questions about your needs made you sit up and think, I don’t get that!, then you might be pleased for this thumbs up:

Target Accounting is the fairly priced, expert, digital chartered accountants with branches nationwide that you might be looking for as an alternative.