If you are unhappy with your current accountant, making a switch might be easier than you think. Here is a quick guide to help you change accountants and choose the right one for your business.
Why Change Your Accountant?
If you are facing poor communication, lack of proactive advice, errors, or high fees, it is time to reconsider your accountant. A great accountant should help your business grow, not hold it back.
Steps to Change Your Accountant
Review Your Contract: Check for any notice periods or obligations before ending the relationship.
Find a New Accountant: Do this before informing your current one to ensure a smooth transition.
Notify Your Current Accountant: Send a professional letter or email to end the engagement (or your new accountant can do this for you).
Request Documentation: Collect all relevant financial records for your new accountant (or your new accountant can arrange for this to be done for you).
Grant Authority: Allow your new accountant to manage your financial affairs, including communications with HMRC.
Facilitate a Smooth Handover: Let both accountants handle the transfer of information.
How to Choose the Right Accountant
Industry Experience: Look for an accountant who understands your business sector.
Qualifications**: If you prefer dealing with qualified accountants, ensure they are accredited (ACCA, ICAEW, CIMA).
Technology Skills: They should be comfortable with accounting software like Xero or QuickBooks.
Transparent Fees: Ensure pricing is clear, with no hidden costs.
Proactive Advice: Choose someone who offers guidance beyond basic accounting.
Communication: Find someone who matches your preferred communication style.
Client Testimonials: Look for a proven track record through reviews or referrals.
Why Penn Accounts?
At Penn Accounts, we offer proactive, industry-specific advice and transparent fees. We’re here to help your small business thrive.
Ready to switch? Contact us today!
** Not all accountancy firms are members of professional bodies.
0207 183 6623
The information provided in this article is not intended to constitute professional advice and you should take full and comprehensive legal, accountancy or financial advice as appropriate on your individual circumstances by a fully qualified Solicitor, Accountant or Financial Advisor/Mortgage Broker before you embark on any course of action.
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