Here is our 4 step guide:
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 usually causes no problems. Your previous accountant may charge you a small fee for this service.
Assigning authority – You can expect to receive a registration form additionally to your Proposal (Quote) and Engagement Letter to provide your personal and business information. Accountants legally required to carry out an anti-money laundering check. Then finally, you’ll need to assign authority to your new accountants to manage your tax affairs and deal with HMRC on your behalf by signing a new 64-8 form or alternatively using HMRC’s online authorisation service. Your new accountants will be able to help you with that.
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