Want to switch to Zyla Accountants? Here’s how.
There are many reasons why you feel switching to a new accountant is the right course of action for you and your business. Many owners don’t realise that the process of changing accountants is a relatively simple process!
At Zyla Accountants, we know that this transition can be completed with minimal fuss, effort and disruption to your business or limited company.
Reasons to switch?
Your decision to switch your accountant may be due to the growth of your business, or requiring more support. If you’re thinking of changing, ask yourself these questions:
Are you getting value for money? If you don’t feel like you’re getting the level of service you’re paying for this can be a cause for concern.
Do they understand the needs of your business? It is critical that your accountant fully understands what you, as a business or limited company, need from them and your plans for future growth. A misunderstanding can result in a misalignment between you and your accountant
Are your tax returns filed in good order and on time? As part of delivering a good service your accountants should always be ahead of the game. Asking you to drop everything to rush through a tax return is unacceptable – distracting you from your work and, most importantly, growing your business.
Has your business outgrown your accountants? Business growth and a lack of understanding with the latest technology is one of the biggest reasons to move on from your accountants. At the first sign that your accounts are getting too complex for your accountants to handle it’s time to look elsewhere.
Has your accountant outgrown you? In some cases it may be your accountant who has grown too big for you. If you’re beginning to feel like a number to a large firm of accountants then it may be time for you to move on.
What to consider before changing your accountant
You should not rush into the process of changing accountants and you need to consider when is the best time for the handover to take place between your current and prospective accountant. Try to plan to carry out this switch when there is as little activity as possible and avoid changing accountants mid-way through the production of reports or an audit.
Take the time to also ensure all your financial responsibilities have been taken care of. Loose ends such as disputes over unpaid fees often cause delays and disruptions to the smooth transfer from one accountant to the other.
The process of changing and switching accountant
Inform your current accountant – where possible, end things with your current accountant on good terms and let them know that you’re moving on, as this will make the whole process much smoother. You’ll need to grant them permission to speak to your new accountants in order to hand over any paperwork. Alternatively your new accountants can help you draft a letter of notice on your behalf.
Disengagement letter – your current accountants will then need to provide details of the work they have completed so far, including key dates and information. This is known as a disengagement letter and is a professional document.
Professional clearance letter – your new accountant will also need to write to your previous accountant. In this letter they will ask for professional clearance and request any relevant paperwork. They will also ask whether there is any reason they cannot take you on as a client – this is a formality and usually causes no problems. Your previous accountant may charge you a small fee for this service.
Assigning authority – finally, you’ll need to assign authority to your new accountants for tax affairs, which means they can file returns on your behalf.
Documents you need to provide
We will also need to carry out an anti-money laundering check on you by law. This documentation will usually be the following:
Photo ID and a recent utility bill as proof of address
Date of birth,
UTR tax code,
UTR tax reference,
National Insurance number
Company number
Companies House authentication code.
Keep the process simple
At Zyla Accountants we ensure the process of changing accountants is kept as simple as possible. Our aim throughout the process is to cause minimal disruption to your business – so don’t be put-off by the thought of the hassle changing could cause.
Our Chartered Accountants are on hand to provide you with the advice you need to change accountants. Please contact us today or call us on +971 58 535 6176