How To Switch Accountants

How to Switch Accountants

It's important that you choose the right accountant for your business.

Many clients know they are not dealing with the right accountant but don’t ‘switch’ as they believe it is difficult and time consuming. This does not need to be the case. As long as you have the right guidance and you time the switch well, there is no reason for this to be a problem.


Read on to find out more …

Business Growth

So your business has grown and changed, and now you need a different kind of assistance. This is often where business owners realise that the accountant who helped them at the beginning of their business journey is no longer who they need and you are faced with sometimes the difficult decision of looking to switch to a new accountant.


It is also important to take the time to look for your new accountant to make sure they are the ‘right team’ for the job.


Taking your business to the next level is often both exciting and daunting. As your business grows and develops your Accountant should be an important member of your team. Not just by crunching numbers but also assisting with the reporting, advice and general running of your business. This will enable them to work with you to ensure its profitability and growth, as well as being your ‘go to’ person when you need someone to talk to about your plans.


Your Accountant should also be working with you to ensure your business is compliant. Also that you are being kept informed of the latest tax legislation.


At Kennedys Accounting, we are often approached by prospective clients who, for a number of reasons are considering changing accountants. Understandably, they are nervous that it could be tricky and expensive and get in the way of everyday business. This is a distraction business owners not only don’t want, but also don’t have the time to do. The belief is that it’s complicated, however, we have come up with a simple streamlined process to make it easy…..

Here at Kennedys Accounting, we would be delighted if you decided to switch accountants and join our experienced team.

What should you consider before switching accountants

This is a process not to be rushed into. You should ensure that you have found the most suitable accountant for your business. Once you have found the right accountant, you will need to start working with them to work out the way forward for this important decision for a smooth transition of services.

So...... How does switching accountants work?

1.Consider the timing of the ‘switch’, for instance, the end of a VAT quarter or the company year end. This will ensure a smooth transfer and avoid delays.


2. Talk to our experienced team here at Kennedys Accounting and get a quotation for the services you require. We can take care of all your accounting requirements, for instance VAT, Payroll, Company accounts and tax returns. We will ensure that we take the time to fully understand your business and the requirements going forward. Kennedys Accounting will also agree with you the work that your existing accountant will complete, as well as the information we will requesting from them.


3. Before you can change to us as Accountants, we will undertake anti-money laundering checks on all Directors and associated shareholders. We will of course go through all this information with you.


4. Kennedys Accounting will then put together a ‘Letter of Engagement’. Make sure to read through it carefully as it sets out the expectations and requirements between you and Kennedys Accounting as to the services that will be provided.


5. Once you have everything sorted with us here at Kennedys Accounting, then we would encourage you to contact your existing accountant and advise them that you are switching accountants.  You should notify them we will be your new accountants and will be in touch with them for your records. This is called ‘Professional Clearance’.

How to switch accountants

What is Professional Clearance

Well, this means that Kennedys Accounting, as your new accountant will write to your previous one requesting the records that your existing accountants hold about your personal and company accounts. The letter also asks your previous accountant for any professional reasons why the new accountant should not accept the appointment.

Most accountants will act professionally and quickly and send your accounting information to your new accountant. If there is any outstanding work to be completed to bring your accounts up to date, you need to agree the fee with either us here at Kennedys Accounting or with your previous accountant to complete the work.


6. As well as agreeing your accounting fees package, we will also need to sort out the paperwork to advise HMRC that we are now your agents.  As part of our on-boarding, we will ask you to sign a new 64-8 form. This will authorise us to deal with HMRC for both your personal and company tax affairs.

7. Once all the paperwork is complete and we have requested professional clearance we will introduce you to the team who will be looking after you here at Kennedys Accounting and ensuring you have an initial chat with your Account Manager.

So.... Why would you choose Kennedys Accounting as your Accountants?

At Kennedys Accounting, we understand the importance of working with the right accountancy team to grow, manage and understand your business.

Our packages are bespoke to our clients and we are happy to be as ‘hands on’ as you may need. If it is a friendly professional service that you are looking for, with an accounting team who speak in plain English, then you can relax in the knowledge that you will know that your accounting package covers all your requirements. You know the price per month, so there are no nasty surprise bills. Your package can be amended as the business develops and grows.

We are business advisors to numerous established companies and their Directors, astute and forward thinking entrepreneurs as well as new businesses setting out on their journey. We pride ourselves on the work we undertake with our clients to build long-lasting relationships.