Pay Your Way: Understanding Tax

If you have just gotten divorced, there are a lot of changes going on in your life. As many married people use the same accountant, one of the things you may want to consider is getting a different accountant. Here are some things to consider. 

You can stay with your current accountant

Your current accountant is obliged to keep your financial dealings private, and they should not be discussing your new financial circumstances with your ex-spouse. Any client is allowed to expect a reasonable degree of privacy from their financial service provider. Equally, you may have built a strong rapport with your accountant over the years and this can be a great benefit when you are going through a large amount of personal change and may need to get advice on restructuring your finances. 

You can stay in the firm but switch accountants

Some people prefer to stay with their firm as they have a large amount of financial history in one place with their previous returns and feel comfortable with the approach of the accounting firm. Switching accountants may be a good idea if you no longer feel confident with your current accountant or would prefer a fresh start. The accountants can often arrange this with minimal fuss and the new accountant can easily access your tax return history in order to get a good idea of your previous structuring. 

You can switch to a new firm

While you are making other changes, it can also be a good time to review your accounting firm to ensure that you are getting the best accounting services for your needs. You may find that you have different needs now that you are divorced and you might need an accountant who specialises in different fields. You can also look at the fees you are currently being charged and compare that to the fee structure that other companies are using as you may be able to save some money by making a smart switch. A growing number of firms have electronically stored all of their records so it is easier than ever to switch firms and get all of your records transferred. 

Depending on your preferences after a divorce you can either stay with your existing account or move to a new provider. Either way your accountant should be professional and discrete when managing your financial affairs, so that you can have privacy from your ex-spouse.