Research shows that 30% of small and medium sized businesses want to switch their accountants!
Many businesses hesitate to switch accountants, fearing the time and effort involved. In reality, it’s easier than you think, and we handle the entire transition for you, ensuring a smooth and hassle-free process. Contact us today to get started and experience a seamless switch!
Switching your accounting services to Accountant Globe is a straightforward process, and we will guide you through each step to ensure a smooth and seamless transition. Here’s the full process:
Note: Some of the following steps may vary based on your specific business needs and may not all be applicable.
Understanding Your Needs: We’ll start with a consultation to understand your current accounting requirements and goals, as well as any specific concerns you’ve had with your current accountant.
Review Existing Agreements: We’ll review any contracts you may have with your current accountant to identify notice periods or obligations that could affect the timing of the switch.
Sign a Letter of Engagement: To initiate our services, you’ll sign an engagement letter with Accountant Globe, which sets out the agreed services, responsibilities, and terms for both parties.
Complete a Registration Form: We’ll also ask you to complete a simple registration form, which will provide us with all the essential information needed to set you up in our systems.
Verification Documents: As required under UK regulations, we will carry an anti-money laundering check. For this, we’ll request you to provide:
- A recent utility bill (as proof of address).
- Valid photo ID (such as a passport or driver’s licence).
Ensuring Compliance: These documents help us meet our regulatory obligations, ensuring a compliant start to our partnership.
Inform Your Current Accountant: We’ll assist you in notifying your current accountant that you’re switching to Accountant Globe and authorise them to release your information to us.
Settle Outstanding Fees: If there are any unpaid fees owed to your current accountant, it’s advisable to settle these, as they may withhold certain records until fees are cleared.
Professional Clearance Letter: Accountant Globe will then send a professional clearance letter to your current accountant. This formal request includes:
- Asking if there are any professional reasons why we should not accept you as a client.
- Requesting all necessary handover documentation, such as your last financial statements, corporation tax computations, corporation and personal tax returns, and any working papers.
Timely Response: In the UK, your current accountant typically responds within 2-3 weeks, providing the documentation necessary for us to manage your accounts seamlessly.
Records Transfer: We will liaise with your previous accountant to securely transfer your financial records. This often includes:
- Financial statements, tax returns, VAT and payroll records, and any other essential documents.
- Software backups or access credentials, if applicable.
Data Verification: Once we receive these, we’ll carefully review the records for accuracy and completeness, addressing any gaps or discrepancies to ensure a solid start.
HMRC Codes: For Accountant Globe to handle your HMRC tax records, we’ll ask you to provide authorisation codes generated by HMRC’s online service.
Direct Representation: With this authorisation, we can liaise directly with HMRC for your personal and business tax matters, ensuring compliance and keeping you informed of important updates.
Service Kick-Off: With everything in place, Accountant Globe will begin delivering the agreed services, including accounting, bookkeeping, tax, and payroll management as per your engagement letter.
Ongoing Support and Check-Ins: We will maintain regular communication, conduct periodic reviews, and address any questions to ensure you’re fully satisfied with our services and well-prepared for any upcoming obligations.
Why Switch to Us
Switching to Accountant Globe offers you comprehensive financial expertise at competitive rates, making us more than just accountants—we’re your strategic partners. With a decade of experience, our team of chartered accountants and FP&A specialists supports businesses at every growth stage. Beyond account management, we add value by streamlining processes, building a robust finance function, optimising cost, and delivering tailored financial modelling. Whether you’re a rising start-up or an established enterprise, we manage your accounts, deliver insights, and develop models to inform investments, secure funding, and drive sustainable growth.