Switching Accountants pros and cons

[jonniu]

Hi there,

I'm really interested to hear from people who have some experience with switching accountants. I'm considering doing just that, but I'm curious about what happens if HMRC want to see my books.

Do I need to move the data from previous years from one accountant to the other? Or do I just refer the HMRC to the previous accountant and because it's the HMRC the previous accountant are obliged to share the information with them?

Does anyone have any actual experience in this area?

Thanks in advance for any helpful comments

[northernladuk]

If you have a reputable accountant they should transfer everything they have to either you or your new accountant. They should have some process that the new accountant can connect with i.e. spreadsheets, portal or something. If they are just a one man band with it shoved in a folder it could be a bit messy.

Either way if you have to go because the old accountant doesn't give a good service then you've got to go whatever. The hassle (that is really the new accountants problem) will be insignificant compared to the crap you'll be in if the old one continuously messes up.

You should just be able to point the new one at the old one and they will sort it out between them.. Well that's the theory. When I moved from a one man band to SJD he refused to acknowledge both mine and SJD's request for the information and left me with nothing. SJD picked me up very quickly and helped me backtrack using their speadsheets. I had my own records so it wasn't too onerous to re-populate it. Although they were comfortable with the outcome they did suggest I kept everything including correspondence with the old guy just in case there were any queries. If it came to that I could use the fact the move messed up as some mitigation to any problems I might have incurred. As it happens nothing came of it on it was onwards on upwards.

You should really be asking your new accountant what they will do if the information is sketchy or not forthcoming, it's them that will look after you going forward so engage with them and see how they can help.

[SueEllen]

You should have your own copy of your data. If you use online accounting software you should be able to download it and if you are thinking of changing you are advised to download it asap.

You should also have copies of the relevant filed documents, even if they are electronic copies on email, as you should have approved them before the accountant filed them.

In regards to the other documents your old accountant (in theory) should send them to the new accountant or you.

[Fred Bloggs]

If you're within a few months of year end, I'd delay and move at year end if I were you. Makes a clean break then for the new guys to start from.

[jonniu]

Thanks for sharing your thoughts...

Some good thinking in there that helps me out a lot. Thanks for taking the time.