How do I leave my accountant?
Leaving your accountant is not an easy decision to make, but sometimes it’s a very important one! The process of leaving your accountant is actually quite easy nowadays.
How to leave your accountant is a question we get asked by a large proportion of our prospective clients. Gone are the days when you found an accountant and stayed with them for life. It is often not an easy decision to make, but it is an easy process.
Software has made it easier to move records. The move to online means business owners are open to a wider range of accountants, not just the ones on their high street. Business owners are also now more aware that their business needs different support at different stages of their business’ lifecycle.
So what is involved when you move from one accountant to another?
- You will need to give your current accountant notice. You may need to check your contract to see what notice is required. They will also inform you of any fees that may still be owed. They will likely also provide you with a disengagement letter confirming the termination of your contract and the date of disengagement. They will, once all work is complete, also remove their authorisations from HMRC, and also any software access they have.
- Once you have given notice, you can let your new accountant know, and provide them with details of your current accountant. They will then send a professional clearance request. This is a professional requirement of regulated accountants (it is also usually require by professional indemnity insurers). In this clearance request, the new accountant will also ask for records, reference numbers, and another other valuable information to ensure continuity of service. If your accountant pays for any software subscriptions, this will also need to be transferred over. This will not cause a loss of data, it is simply a transfer of ownership of the subscription.
- Your new accountant will also ask for various information in order to get your onboarded, but that is for another FAQ!
It really is as simple as that. Accountants are used to moving these days – it is a business decision, not a personal one. Don’t worry about upsetting them – it is important to make the right choice for your business to help you achieve your goals. Sometimes the relationships just doesn’t work. This is why we invest time in our Discovery Call, our onboarding process, and our complimentary meetings throughout the year. This helps to nurture our relationship.