New Clients

System
System Posts: 100,537 šŸ¤– Admin šŸ¤–
edited June 9 in General accounting discussion
Hi,I'm currently in the process of setting up as a MIP and have a couple of clients who would like me to do their accounts and tax returns.
One is a new client and this will be their 1st year of trading, the other has asked me to take on his accounts from his existing accountant.
I am going to write to my client's accountants to inform them that I will be taking over the accounts in due course as a matter of courtesey.
Please could someone advise how I should go about this letter i.e in getting the tone of the letter correct and what information I can request from the accountants in order to set up the accounts?

Any advice would be greatly appreciated. :D

Thanks
Sharon

Comments

  • System
    System Posts: 100,537 šŸ¤– Admin šŸ¤–
    Re:New Clients

    Firstly find out from your client what his previous accountant did for your client eg book keeping, final accounts, VAT, payroll, tax returns etc

    Your letter should be along the lines of:
    Your client (name) has approached me / us to take over the role of acountant.

    Is there any proffesional reason why I / we should not take this appointment.

    If there is not a proffesional reason please could you forward by return of post the following information:
    1)Set of previous years accounts
    2) Copies of VAT returns (if client is vat registered)
    3) Copies of previous years tax returns (company and personal)depends if company is Ltd or not.

    This is the format I have used and it is also similar to the one the accountant I work for uses. So I assume it is a standard type letter.
    The information required depends on what services were carried out by the last accountant and what the client is expecting from you.

    Hope this helps
    Michelle
  • System
    System Posts: 100,537 šŸ¤– Admin šŸ¤–
    Re:New Clients

    Hi Michelle

    Thanks for your reply, I now have a good idea of approach and format.

    Much appreciated :D

    Sharon
  • System
    System Posts: 100,537 šŸ¤– Admin šŸ¤–
    Re:New Clients

    You would also want to ask for details on any items on the balance sheet - drs, crs, accruals, prepayments etc - otherwise doing the 1st set of accounts is sheer hell - I know from bitter experience - oh yes and also capital allowances.

    Claudia
  • System
    System Posts: 100,537 šŸ¤– Admin šŸ¤–
    Re:New Clients

    Thanks Claudia :-)
  • System
    System Posts: 100,537 šŸ¤– Admin šŸ¤–
    Re:New Clients

    Bank rec :roll:

    Regards

    Dean
  • System
    System Posts: 100,537 šŸ¤– Admin šŸ¤–
    Re:New Clients

    I also normally put at the end of the letter "any other information that you hold" or words to that effect in case I have forgotten anything :oops: cheers Dean!

    Claudia
  • System
    System Posts: 100,537 šŸ¤– Admin šŸ¤–
    Re:New Clients

    :lol:
  • System
    System Posts: 100,537 šŸ¤– Admin šŸ¤–
    Re:New Clients

    Alright Dean you win :wink:

    Here is the standard letter that I use and abuse as needed!

    I/We* have recently been approached by (name of client) to act as their accountants/professional advisers* for the year/period ended* ...................................... and thereafter.
    Please could you inform me/us* of any circumstances or information which you have knowledge of, which I/we* need to consider in deciding whether or not to formally accept this appointment.
    If there are no circumstances that I/we* need to be aware of, would you please supply the following information:
    (a) The last tax return and schedules submitted for each person/partner*, including business taxation computations, capital allowance claims, etc.
    (b) Copies of all assessments/self assessment returns relating to any earlier tax years which are still open or on which enquiries are still in progress.
    (c) The last completed accounts available for the business.
    (d) Any schedules you have giving details of the make-up of items in the last completed accounts, such as:
    (i) debtors and prepayments;
    (ii) creditors and accruals;
    (iii) bank reconciliations;
    (iv) stock and work in progress;
    (v) plant register;
    (vi) other.
    (e) A note of the appropriate tax district and reference numbers.
    (f) Details of any taxation losses available and overlap profits not previously utilised.
    (g) Any other schedules etc. which you feel will be of assistance.
    (h) Any information relating to capital gains tax including rollover relief and the re-basing position.
    (i) Details of the current inheritance tax position.
    Please also give details of any items such as accounting records/private ledgers, etc. which you hold so that we may arrange for their collection.

    I/We* enclose a letter from the client authorising you to release the above information to me/us*.
    Thank you for your assistance in these matters.
    Yours


    Happy now ???? :lol:

    Claudia
  • System
    System Posts: 100,537 šŸ¤– Admin šŸ¤–
    Re:New Clients

    Well I'm very happy!!!!!!
    Thanks Michelle, Claudia & Dean :lol:

  • System
    System Posts: 100,537 šŸ¤– Admin šŸ¤–
    Re:New Clients

    Very good Claudia

    I might even add to my own letter now :)

    Regards

    Dean
  • System
    System Posts: 100,537 šŸ¤– Admin šŸ¤–
    Re:New Clients

    It's a pleasure Dean - where do I send the bill? :lol:

    Claudia
  • System
    System Posts: 100,537 šŸ¤– Admin šŸ¤–
    Re:New Clients

    :lol:

    Regards

    Dean
  • System
    System Posts: 100,537 šŸ¤– Admin šŸ¤–
    Re:New Clients

    Oh Dean 1-0 to the girls! (only joking!) :lol:

    Left yourself wide open there mate.

    Ste
  • System
    System Posts: 100,537 šŸ¤– Admin šŸ¤–
    Re:New Clients

    LOL, let my guard down for one min and a women takes advantage... just typical that! :D

    Regards

    Dean
  • System
    System Posts: 100,537 šŸ¤– Admin šŸ¤–
    Re:New Clients

    Oh Dean

    You should be so lucky 8)

    Annette

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