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Cancelling accountant after 2 months

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    Cancelling accountant after 2 months

    Some of you may have read other posts about my accountant and the things I'm not happy with.

    Anyway, checked what I signed up and its a fixed fee basis with 30 days notice to cancel. So I was wondering if I give him 30 days notice, am I only liable for the monthly payments for the months I've been with them?

    Or can the accountant add extra charges because I've left early?

    Specifically thinking that they did one contract review for me (and the terms are two contract reviews a year included) but then they now wont have to do end of year returns for me etc.

    Also, if I go to another accountant, am I likely to pay more because because I'm part way through the year. Aware that monthly fees are biased towards the fact that a lot of the accountants work is at the end of year. For instance, you could expect to stroll into accountants at year end, pay him £100 for that month and expect a full set of company accounts done.

    Saying that though, despite several reminders to send me the correct DD form, I've only ever made one months manual payment to the accountant. Not chasing them any more.
    Rhyddid i lofnod psychocandy!!!!

    #2
    My guess you'll pay your current accountant for the time spent, and pay your new accountant for the full year, but I could be wrong.

    Try not to think of it as a monthly fee, more that they are splitting their yearly fee into 12 chunks for you.

    So with the new accountant, it's not like he hasn't done the first few months work, just that his payment will be spread over a shorter time frame.

    Comment


      #3
      Originally posted by jmo21 View Post
      My guess you'll pay your current accountant for the time spent, and pay your new accountant for the full year, but I could be wrong.

      Try not to think of it as a monthly fee, more that they are splitting their yearly fee into 12 chunks for you.

      So with the new accountant, it's not like he hasn't done the first few months work, just that his payment will be spread over a shorter time frame.
      Yeh. Thats what I thought was the case.

      Just dont want to be stung for a huge bill from my current accountant, as well another bill for the whole year from any new accountant.
      Rhyddid i lofnod psychocandy!!!!

      Comment


        #4
        Originally posted by psychocandy View Post
        Anyway, checked what I signed up and its a fixed fee basis with 30 days notice to cancel. So I was wondering if I give him 30 days notice, am I only liable for the monthly payments for the months I've been with them?

        Or can the accountant add extra charges because I've left early?
        Ask them.

        Also, if I go to another accountant, am I likely to pay more because because I'm part way through the year. Aware that monthly fees are biased towards the fact that a lot of the accountants work is at the end of year. For instance, you could expect to stroll into accountants at year end, pay him £100 for that month and expect a full set of company accounts done.
        Ask them.

        This is your money. It is up to you to sort it all out for you, not us.
        'CUK forum personality of 2011 - Winner - Yes really!!!!

        Comment


          #5
          With two months of trading I would be surprised of your new accountant charged you for bring that info across. Most accountants are happy to have the new customer, and are likely to waive any form of fees that would prevent someone from switching to them.

          Having said that northernladuk is right - your questions can really only be answered by speaking directly with the accountants involved.
          2012 CUK Reader Awards - '...Capital City Accountancy, all of whom were outside the top three yet still won compliments from CUK readers for their services' - well, its not an award, but we'll take it! - Best Accountant (for IT contractors) category
          2011 CUK Reader Awards - Top 3 - Best Accountant (for IT contractors) category
          || Check us out at: http://www.linkedin.com/company/capi...ccountancy-ltd

          Comment


            #6
            Originally posted by jmo21 View Post
            My guess you'll pay your current accountant for the time spent, and pay your new accountant for the full year, but I could be wrong.

            Try not to think of it as a monthly fee, more that they are splitting their yearly fee into 12 chunks for you.

            So with the new accountant, it's not like he hasn't done the first few months work, just that his payment will be spread over a shorter time frame.
            I switched accountant way longer into the financial year. I transferred to NW, and they were happy to waive the fees, if I paid the year's fees all in one go. The fees is not too high, so did it. Also it depends on how helpful your old accountant would be in relenting the data to your new accountants.

            As everyone has said, it is best to speak and negotiate with the new and old firms.

            HTH.

            Comment


              #7
              Originally posted by rd409 View Post
              I switched accountant way longer into the financial year. I transferred to NW, and they were happy to waive the fees, if I paid the year's fees all in one go. The fees is not too high, so did it. Also it depends on how helpful your old accountant would be in relenting the data to your new accountants.

              As everyone has said, it is best to speak and negotiate with the new and old firms.

              HTH.
              Probably not going to be the most helpful since I'm kicking him to touch !!!!
              Rhyddid i lofnod psychocandy!!!!

              Comment


                #8
                Originally posted by psychocandy View Post
                Probably not going to be the most helpful since I'm kicking him to touch !!!!
                Just make sure your new accountant understands you trade in different currencies and they are expected to do the VAT that per HMRC's rules.
                "You’re just a bad memory who doesn’t know when to go away" JR

                Comment


                  #9
                  Originally posted by SueEllen View Post
                  Just make sure your new accountant understands you trade in different currencies and they are expected to do the VAT that per HMRC's rules.
                  Yep. Although this accountant swore blind he had loads of experience in dealing in Euros but it looks he didnt and has tried to blag his way this time.
                  Rhyddid i lofnod psychocandy!!!!

                  Comment


                    #10
                    Originally posted by psychocandy View Post
                    Probably not going to be the most helpful since I'm kicking him to touch !!!!
                    There is a professional body that most of the accounting firms are affiliated with. I can't remember the name, but if your accountant is one of them, then they would not screw up. You dont have to do anything, as everything will be handled by the new accountants. Usually they send an email/letter to the contact in the firm. They have a standard format, and standard request. As you are only couple of months into the financial year, they would not have to deal with lots of calculations hopefully.

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