by Nick Robinson | Sep 25, 2014 | Accounting, Business, Business Planning
Yorkshire Accountancy pride themselves on offering a high-quality and cost-effective accounting service. We offer a more complete and knowledgeable service than many other accountants, yet are cheaper than many other firms, particularly in London. However, many people are reluctant to switch accountants even if they are not happy with their current provider, fearing the process may be difficult or complex.
However, switching your accountancy provider does not have to be a difficult process. In fact, it can be quite quick and painless. The result, however, can be huge in terms of adding value to your business, whether that’s through a better-quality service of cost saving compared to your current provider.
Reasons to Change Accountant
There are many reasons you may wish to change accountant. Ultimately, they all boil down to the question of whether you are happy with your current provider or not. However, there are a number of things that might tell you it is time to make the switch:
• You feel you are being overcharged or receiving poor service.
• You do not feel they are keeping up with the expansion of your business.
• They make a great show of knowing about your business, but never turn that into practical advice.
Making the Switch
Assuming your accountant is chartered or has another professional certification, then regulations compel them to assist you with the changeover and not to obstruct the process. If your accountant does not fit into these categories, it is probably best to switch to a better-qualified accountant even if the process is more difficult.
Your new accountant will usually handle the process of requesting the necessary papers and information. However, as a point of reference, some of the most important things that will need to be obtained include:
• Most recent set of accounts.
• Any correspondence from HMRC that remains outstanding.
• Latest bank reconciliation statement.
• Copies of important forms and records such as last annual tax return.
• Complete list of fixed company assets.
• Most recent income tax and Corporation Tax assessments.
• Complete list of debtors and creditors.
Problems with the changeover process are rare, especially if your previous accountant is qualified and certified. However, they can happen from time to time. One of the most common problems arises when your previous accountant fails to respond to correspondence or requests for information. While the situation is not ideal, if they persistently refuse to reply your new accountant will be able to take you on without your previous provider’s help.
Another problem that can arise is when your previous provider tries to levy fees you feel are unfair. Think carefully about whether the fees truly are unwarranted, as they are entitled to inform your new provider about your refusal to pay. However, obviously you do not want to spend your company’s funds on unfair fees so if you are certain that you are in the right you can make a complaint to the regulatory body of any qualified accountant.