Monday, 2nd March 2020
The new tax year is almost upon us and for many it is also the start of your new financial year end. It is a time when many of you will rely on your accountant for the all-important support and advice before the close down of your current financial period end.
Are you getting a good level of service or has your accountant become complacent? Ask yourself these questions:
1 – Are you getting value for money?
It is important to understand what services you are paying for and whether they match up to the services you are getting. Review what is included in your engagement letter, together with any additional services agreed to date. Perhaps you are paying for something that you do not feel is being received. Take a look around and see if you could get a better level of service elsewhere. At Onyx we are very proud of the views of our clients and invite you to read our client testimonials. Then come and see us for yourself.
2 – Does your accountant understand the needs of your business?
Does each conversation feel like a Groundhog Day when you speak to your accountant? Having to repeat common information is a key indication that your accountant is not engaging with you. It is critical that your accountant fully understands both you and your business. Good business planning and financial advice depends on the growth of your business and a lack of understanding can result in poor advice.
At Onyx each client is assigned an Account Advisor and an Account Manager who will work with you consistently. Our friendly team are highly trained professionals and can ensure a pro-active work ethic. We pride ourselves on providing an outstanding service, knowing our clients and being available when you need us.
3 – Are your tax returns filed on time?
Your accountant should always be ahead of the game. Deadlines are well known therefore there should not be any last minute requests or surprises. You should not need to chase your accountant.
At Onyx, timescales and deadlines are managed by your Account Advisor who will engage directly with each client to notify them of up and coming deadlines.
We ensure that financial accounts are completed within 4 months of your reporting year end. This enables you to plan ahead and focus on your business with the assurance that the financial support we provide is in place and ahead of the game.
4 – Has your business outgrown your accountant?
Has the level of service from your accountant grown at the same rate as your business? This can often be one of the reasons to move on, particularly if the services required seem too complex for your existing accountant to manage.
We plan for long term relationships with our clients and achieve this by implementing tiered levels of expertise. Onyx have supported many clients as their businesses have grown from being sole traders to multi-million-pound companies.
5 – Has your accountant outgrown you?
Has your accountant merged resulting in your affairs being managed by someone new? Perhaps they have relocated and are no longer local. It may be that perhaps your accountant has outgrown you!
Our clients are not faceless organisations and our teams are structured to engage with each client regardless of size. Whether you are a sole trader or a multi-million-pound company our aim is to deliver the same level of high-quality service.
Did you answer YES to any of these questions?
Moving to a new accountant is a simple process. At Onyx we follow a tried and tested method to ensure that the transition is seamless for you. We apply a little TLC!
T is for Timing
To ensure a smooth transition from your previous accountant we work with you to identify the most appropriate time to move. Ideally with minimum impact on your day to day operations as possible.
L is for Loose ends
The key to a smooth handover is ensuring all financial responsibility with your previous accountant has been resolved. This includes the settlement of all outstanding fees and ensuring that neither party is waiting on an action or outstanding information. Disputes over unpaid fees is the most common and significant threat to a smooth handover.
C is for Communication
Tell your existing accountant that you are moving on. Always end on good terms. As professionals it is in their best interests to ensure that the handover is managed swiftly and without any unnecessary delays. We will then formally request professional clearance.
What Happens Next?
At Onyx we ensure the process of changing accountant is kept as simple as possible.
Throughout the process our aim is to cause minimal disruption to you and your business.
Our teams are on hand to provide you with the advice you need to change accountants – and to ensure a hassle free handover!
Call us on now on 0121 753 5522 or 01902 759 800 for a FREE no obligation consultation. Alternatively you can e-mail us on email@example.com
Visit us at www.onyxaccountants.co.uk to see how we can help your business grow.