OUR GUIDE TO CHANGING ACCOUNTANTS – THE EASY WAY
Ever considered changing accountants? Not every accountant offers the same quality of service and with nearly 70% of small business owners unable to recommend their own current accountants to others, it showcases the scale of the problem.
At Prestige Business Management, we put our clients first. We keep the communication front and centre; we provide real and tangible value and benefits through our range of cost-effective subscription packages. Let’s find out how you could change accountants today?
What’s The Problem?
According to a new study, nearly 80% of small and micro businesses work with an external bookkeeper or accountancy service. But the second set of statistics are brutal – 70% of SME or micro businesses would not recommend their current accountants to friends, family or acquaintances. This problematic experience will push nearly 30% to jump ship and join another accountancy service.
At Prestige Business Management we understand that other accountancy firms and bookkeepers don’t offer the same level of customer satisfaction. Some of our clients have had some real problems. Yet, our simple and accessible way of doing business has helped hundreds of businesses thrive. For example, we have had a client with nearly two years of incorrectly calculated VAT returns and others with financial accounts that made literally no sense – we forensically unraveled these problems and helped to provide real solutions to our client’s accountancy and bookkeeping problems.
Another issue we discovered from new clients, especially Limited Company clients, was that LTD status companies need to have complete continuity – for example, the last set of accounts should match the starting balance of the new financial year. These are statutory realities and some of our clients come to us with major compliance headaches. But we help them overcome such obstacles. We explain what we have found, how we will fix it and then deliver on our promises.
Changing Accountants to Prestige Business Management
Changing accountants to Prestige Business Management is incredibly easy and hassle-free. Let’s break down the process for both self-employed individuals and limited companies. We can help both, but the process differs.
Switching to Prestige Business Management If You Are Self-Employed
Joining Prestige Business Management as a self-employed client is really easy. All you need to do is to fill out or new online client form available online on our easy-to-navigate website. We will need some basic information to help make registering easy:
- We will need:
- Your name
- The business address
- Along with your date of birth
- And your National Insurance Number
With this information we can then begin the process. We will contact your old accountant (if you had one!) and we will ask for a copy of your previous self-assessment. This will be done whilst informing them that we will be taking over responsibility for your accounts going forward.
The next step will see Prestige Business Management send an electronic request to HMRC on your behalf in order to become your legal agent and thus your approved accountancy and bookkeeping partner. They will send you, via Royal Mail post, a code. You will then need to relay this code to Prestige Business Management. This will give us access to your HMRC data. Then we will ask for all your records – we don’t care if it’s an old shoe box full of receipts or a Microsoft Excel spreadsheet with disparate entries. We can help make sense of your financial situation helping you to understand with clarity how your self-employed business is succeeding.
Switching to Prestige Business Management If You Run a Limited Company
The Limited Company likewise follows the same pattern but there is a greater complication – one that Prestige Business Management can help streamline. We can help you fill out your Limited Company registration form with Prestige Business Management. Prestige Business Management will also contact your previous accountancy partner and we will request all your past financial and accountancy information from all your past filed accounts. Also we will, like the self-employment process, submit an authorisation request with HMRC. This mean that, on your behalf, we can register you on a range of HMRC services.
We can manage a range of Ltd Company tax affairs from Corporation Tax, CIS, VAT, PAYE and more, if applicable. Each of these singular registrations will generate a singular code from HMRC which you will be required to forward to Prestige Business Management. Then we will ask for your records – again be it a shoe box or digital accounts, we can help start making sense of your business’s finances.
Making Tax Digital Ready with Prestige Business Management
Prestige Business Management is ahead of the curve when it comes to HMRC’s Making Tax Digital scheme. You should consider our MTD focus when considering changing accountants. Making Tax Digital is a new initiative created by HM Government that has a singular purpose – to end the tax return and to create, by 2020, a transformative tax experience for taxpayers. An always-on tax account that is more efficient, simpler and intuitive for taxpayers and financial agents alike.
Prestige Business Management has partnered with QuickBooks. If you or your business have yet to implement an accountancy program to help streamline your finances, we can help. Our QuickBooks partnership can provide you with an intuitive platform, that is Making Tax Digital ready, it can also help you understand more about how your business is operating – from cash on hand to reporting on a wide range of key issues from debtors and beyond.
We can help set up QuickBooks, provide full support and be on hand 24/7 allowing you to grow.
Why Wait Any Longer – Call Prestige Business Management Today?
We can help you switch accountants with ease, our simple registration system can help you start the process. The respect we have gained from putting our clients first is a testament to our values.
Here are just some of our testimonials:
- ZOEY WRIGHT – “I changed accountants to Sam and Prestige because I was not satisfied with my old one. My experience with Sam and his team has far surpassed my expectations which were already quite high. Sam is accessible, very knowledgeable, creative and very professional! He is fantastic at listening to his clients and adjusting to their needs while following all the rules. He has saved me both time and money and I cannot recommend him enough!”
- RIC NORELL – “I have worked with Prestige Business Management for several years and I have always found Sam to be a very diligent and dedicated person. I have worked with Sam through a few different businesses and he has also started looking after my personal tax returns. I would highly recommend Prestige Business Management to anyone looking for a commercial accountant to look after their affairs.”
- MARTYN DREW – “I love PBM, they helped me out when I was moving from previous accountancy firm, they just jumped in and took control of the accounts, VAT, payroll and corporate tax. They know what they’re doing, and they provide a friendly and professional service. They 100% care about the businesses they manage, and they care about their customers. I had a very good experience working with Sam and PBM and I highly recommend Sam.”
As these testimonials highlight, we put you first. So, if you are having difficulties with your current accountant, want a more personal touch with better communications, access to better technology and on-demand assistance, Prestige Business Management can help!
Call us today on 0203 773 2927 to discuss changing accountants and to start your collaboration with us today?