So your accountant is okay. They cover all the bases, don’t charge the earth and you would feel bad leaving them. But are these reasons really in the best interest of your business?
When we started to consider why businesses should change their accounting provider (and there are loads of really good reasons), we kept coming back to the same old justifications for staying put.
Boox tell us the four most frequent reasons people stay with their current accountant.
Reason 1: “We’ve been with them forever”
Staying with an accountant just because they have been with you from the beginning is not the right reason. You might have started out on your own and now have 20 employees; in which case your accounting needs have fundamentally changed. If your accountant is not proactively meeting your present requirements, it’s time to switch.
Reason 2: “They get the job done”
You have no complaints as such. Your accountant gets on with the basics and has never been late filing accounts or given you duff advice. Is that really enough? Your accountants should pay attention to your vision and the bigger picture for your business, not just nail the essentials and take your money.
Reason 3: “All accountants are the same”
This is a bit like keeping a car because it has four wheels and gets you from A to B. What if you could have a car that costs you no more but has loads of great features you didn’t even realise you could get? That’s why you shop around right?
Treat your business accounting the same way. The latest innovation is always round the next corner. The future of the UK tax system is digital, so if your accountant does not have the technology in place to deal with that, you risk being left behind.
Reason 4: “Switching is too much hassle”
Switching accountants should be as simple as selecting your new provider, but save yourself any trouble by first checking any terms which may apply to transferring your custom to another provider.
After that all administration should be handled between your new and old accountant to ensure a smooth transition. If your new accountant is worth their salt they will want to start off their relationship with you in the best possible way, and that means a clean, efficient switching process.
If any of these sound familiar as reasons you haven’t considered switching accountants, you may be suffering from accounting apathy!
Whether you are a sole trader, small limited company or a growing business, the Boox switching service is designed to be simple, quick and reliable, so get in touch today to find out more with absolutely no obligation.