Changing your accountant

There can be many reasons why you are considering changing your accountant. This could be due to poor service, not getting value for money or perhaps you do not feel they truly understand your business.

Whatever the reason, there is a standard process you will have to go through, regardless of which accountants you currently use and who you want to use in the future. The steps in the process are shown below.

5 simple steps when changing your accountant to Walker Moyle

1. Tell your current accountant that you want to move to Walker Moyle. Ideally, this should be in a written format, by letter or email. You should also provide them with our contact details and give permission for them to speak directly to us. If you are not sure what to write, we can draft the letter for you.
2. Your current accountant will then send you a disengagement letter which should outline the work they have done for you, key dates and information which we need to be aware of. You will be asked to sign this disengagement letter to confirm your intention to leave them.
3. Please let us know when you have done the above. We will write to your current accountant to ask for ‘Professional Clearance’ so that we can act for you. We will also ask your accountant for copies of your papers and documentation including accounts and tax returns and online accounting details, where appropriate. As part of the professional clearance process, we are obliged to ask your current accountant if there are any reasons why we should not act for you. This is just a formality and does not usually give rise to any issues, but it is important that you are aware of this.
4. We will then send you an engagement letter which will set out the basis of our working relationship with you. We will also detail the work we will be doing for you and issue you with a copy of our standard terms of business. You will need to read, sign and confirm your acceptance of these engagement terms. During this engagement process, we will carry out the appropriate money laundering checks on you.
5. Finally, when the new engagement process has been finalised, we will ask for your authority for us to file your tax returns and communicate with HMRC on your behalf. This is done by getting you to sign a ’64-8’ authority form.

Further tips on moving accountants

You can change your accountant at any time of the year. However, for the least amount of disruption and to keep your costs to a minimum, the best time to change is at the end of your financial year. Ideally, this should take place before too much work is carried out in the new financial year, such as bookkeeping or payroll work.

Before moving to a new accountant, meet with the partner and where relevant the team who will be dealing with your affairs. It is important that there is a rapport between you and that you feel that they fully understand your business and what you are trying to achieve.

At Walker Moyle, we aim to make this transition as seamless as possible for you. Contact us today on 01736 362265 to discuss your needs, how we can help you and how we can start the process to move accountants.