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How to change accountants – it’s easier than you think!

How to change accountants – it’s easier than you think!

The reason most often given to us as to why individuals and businesses stay with unsatisfactory accountants for longer than there is any need for them to do so, is simply fear:

  • Fear of the potential complexity of changing accountants
  • Fear of any associated costs
  • Fear of the unknown (otherwise known as ‘better the devil you know’ complex)
  • Fear of confronting, telling or letting someone down. You may have worked with them for quite some time, and they perhaps don’t realise that you are dissatisfied
  • Fear of opening up your, or your business’ financial world to scrutiny from someone new

The process however, is actually incredibly simple and cost free. As the client making the decision to change accountants it is courtesy to inform in writing the outgoing accountants of your decision. (please see link at the foot of this article to your downloadable sample letter)

Professional Clearance

Once this has been done, the incoming accountancy firm will write and request professional clearance from your former accountants… This is simply an acknowledgement from the outgoing accountants that there are no professional reasons they are aware as to why an appointment cannot be accepted. At the same time sufficient information would be requested from your former accountants. This is to facilitate a smooth handover of your personal and company financial and tax affairs. The outgoing firm is obligated by professional guidelines to help facilitate a smooth handover of these matters.
There are a number of forms to complete to formalise the the appointments of new accountants including an engagement letter and forms authorising your new accountants to act on your behalf with HMRC.

This is a process that is usually all completed within a couple of weeks. It is a long established and agreed procedure between accountancy firms and their governing bodies.

 Please click the link below to download a pdf template letter to your existing accountant advising them of your wish to change. Or alternatively, contact us for an editable word version of this document.
Sarah@in-accountancy.co.uk / 0161 4569666

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