If you’re unhappy with your current accountant or have simply grown to a point where a more advanced service is needed, you might have a few questions about how switching accountants actually works.

If you haven’t switched accountants before, it can feel like a bit of a step into the unknown, with lots of questions like, “how much will it cost?” or “will there be lots of paperwork?”.

To help put your mind at ease, we’ve compiled a list of some of the most frequently asked questions we get from people looking to switch.

Is it hard to switch accountants?

The answer these days is no!

Our client care team makes the process easy:

1. First, you accept our proposal.
2. We usually recommend you let your existing advisor know about the change out of courtesy.
3. We then send a clearance request to your existing accountants for the information we need to get you set up - typically this will be a large portion of the information (the more we get from them the less we require from you).
4. Then, our client care team will collect any outstanding information from you, including company director's ID verification code - we will do this using a form and a phone call to make sure it is personal and that you are not alone.
5. After that, if there is any outstanding information from your old accountants, we will chase them.

There tends to be two types of exiting accountants:

• Those who want to do right by their clients and hand over all the information in an easy-to-use format at the earliest convenience.
• Those who hand over paper documents and delay sending.

Hopefully the exiting accountant will treat others how they would like to be treated and accept the change, then we can work with them and agree handover and timing.

Either way it is a requirement under their accounting governing body to send the information so we will get hold of it.

How does it work switching part way through the year?

This is very common and not an issue.

We always work with clients on the timing. Typically, if a payroll is due or VAT return due in the next few days, best not upset the apple cart and drop the fact you are leaving on them (especially if they will react negatively). So, we pick the time to make them aware and most times they understand, change doesn't happen for no reason.

All services are usually transferred at this point, but it isn't unusual for us to agree some services handed over immediately whilst some remain with the old accountant for a short period of time, e.g., if you have paid for your year-end fees up front and its part of their terms and conditions not to issue a refund then it may make sense for them to complete. This will depend on the relationship and the ability of your old advisors.

Who informs my current advisor?

We always advise the client to do so out of courtesy. It will also help the next steps of passing over information as they are more likely to be on board with handing over information efficiently and in a usable manner.

How is the process managed?

Our client care team will handle the whole process proactively. We will get as much information from previous accountants as possible and only ask clients to fill the gaps or if we have issues.

Will I end up working with a junior member of staff after I switch?

It’s quite common for clients to start working with a partner or senior staff member but then quickly find themselves passed on to a junior staff member.

At Gravitate, that’s not the case. You will be placed with a squad and have a full team to support you at all times. This includes someone capable of stepping in as your FD (Finance Director) and advising you on your accounts, to bookkeeping support!

What is an alignment fee?

We bill monthly for our fees; this benefits our clients because it means there are no bulky or unexpected fees. We also collect payments automatically, so there is no admin burden for them in making payments.

Here’s how the alignment fee works:

For example, if our year end accounts fee is £150 per month*, and if we start working together in month 11 (a month before our year-end), there will be an alignment fee to ensure you are up to date.

• An alignment fee will be raised for £1,650 (11 months x £150)
• Then, the £150 will be billed per month.
• All you will pay is your monthly fee, unless you request additional support and we will always communicate a quote up front.

*Actual fees will depend upon the services selected and the size of your business. You can see all our pricing on our pricing page.

Our goal is to provide a good experience and make a positive impact for everyone we work with. If you have any additional questions or are looking to switch accountants, get in touch with our team today!

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