How to change accountant
Running a business is time consuming and complex, but the good news is that changing your accountant isn’t. If you don’t feel like your current accountant is quite offering what you need, it may be time for a change.
Is it easy to move to a new accountant?
Changing to a new accountant is actually fairly straightforward. Shop around for the accountancy services which best suit your needs (and budget), and your new accountant will deal with the rest. Once you make the switch, they will contact your old accountant for all of your records and make the transfer.
So, it’s all easy enough, which is even more reason to find a more cost-effective accountant who can offer you more. If you’re not happy with your current accounting service, make that change!
Ready to change accountants? Find out more about the process and get an instant quote today.
What will changing to a new accountant do for your business?
A reputable qualified accountant is the backbone of any business, adding value by establishing and maintaining accurate financial records. If your current accountant isn’t doing this for you, changing to a new one will give your business a much-needed refresh.
Good business records help to measure the success of a business, and are crucial for HMRC compliance, managers, and potential investors. An accountant’s role is key to this, and leaves you free to concentrate on other areas of the business.
Move to a new accountant who will examine your business records on a regular basis, not just as a new client. They’ll be able to identify areas where performance is not as it should be, and spot any potential problems. It also means they’ll be able to make sure that your business is always operating as efficiently as possible whilst it grows and changes.
Using accounting software with your new accountant
Some accountants, especially online-based accountancies, also provide accounting software as part of their services. It enables clients to interact with their accountant more fluidly, so both can update and work-on documents in real time.
Invoicing and other accounts administration is completed on a regular basis, and your accountant will be able to identify potential problems more quickly. It allows issues to be dealt with before they can become more serious and create difficulties for the business.
Do I need to change my accountant?
As well as running the business on a day-to-day business, owners and managers are responsible for the financial health of a company. It might include dealing with payroll, completing tax returns and dealing with the administration of HMRC compliance.
A knowledgeable accountant will help your business be more tax efficient, as well as taking care of other the financial aspects.
Financial planning
Planning is vital for the success of a business, allowing businesses to implement strategies which deal with potential problems before they occur. It also helps the business support any growth activities whilst reducing the risk of causing strain to other areas.
Accountants get to see a lot of different business models and operations, and can use this knowledge and experience to help you tailor your plans.
Accurate record keeping
Keeping accurate financial records in a timely manner is crucial for a business. It’s a major compliance requirement from HMRC, and is also useful in helping to secure financial backing from either banks or investors.
Your accountant can deal with all aspects of record keeping, as well as completion and submission of all forms and documents.
This will ensure that you pay the correct amount of tax and at the correct time, avoiding penalty charges and interest on late payments. And on the subject of tax…
Accountants legitimately reduce your tax bill
Part of an accountant’s role is to legitimately reduce your tax bill. They will help you make the most of any tax reliefs, allowances and expenses which are available and appropriate for your business.
As businesses owners it’s not always possible to know what can be claimed. A good accountant will help you recover any allowable expenses or tax relief, so that you don’t find yourself paying far more tax than necessary.
If you feel your business is suffering because of a low standard accountant service or you think that you are being over charged, change your accountant. It’s quick, easy and there are lots of options out there!