Accounting Services

Our accounts management and preparation services involve thoroughly recording, analysing, and reporting financial transactions. Lexarox Accounts delivers comprehensive accounts management services to support businesses of all sizes in maintaining accuracy and transparency.

What It Covers:

• Preparation of detailed financial statements, including balance sheets, income statements, and cash flow statements
• Regular reconciliation of bank statements and financial records to ensure consistency
• Monitoring and reporting on financial performance, ensuring compliance with accounting standards
• Management of accounts payable and receivable
• Strategic advice on financial strategy and budgeting to aid business growth

Tax Returns are formal declarations of income, expenses, and other relevant tax details submitted annually to HMRC. Lexarox Accounts guarantees accurate preparation and timely submission of tax returns, aiming to reduce tax liability and optimise allowable deductions.

What It Covers:

• Comprehensive review and documentation of income and expenses
• Calculation of tax liabilities and identification of applicable reliefs and allowances
• Preparation and submission of tax return forms (e.g. SA100 for individuals, CT600 for companies)
• Managing communications and queries from HMRC on your behalf
• Providing strategic tax planning advice to optimise future tax returns

VAT Returns involve the periodic reporting of Value Added Tax (VAT) charged on sales and paid on purchases to HMRC. Lexarox Accounts ensures the accurate and timely preparation and submission of VAT returns, safeguarding compliance with VAT regulations.

What It Covers:

• Accurate recording and calculation of VAT on sales and purchases
• Preparing and submitting quarterly or annual VAT returns to HMRC
• Advising on the most suitable VAT schemes for your business (e.g. Flat Rate Scheme, Standard Accounting)
• Handling VAT inspections and responding to queries from HMRC
• Ensuring full compliance with VAT regulations and deadlines

Lexarox Accounts offers meticulous bookkeeping services, ensuring that your financial records are consistently organised and up to date.

What It Covers:

• Recording all financial transactions, including sales, purchases, receipts, and payments
• Maintaining ledgers for accounts payable and receivable
• Reconciling bank statements to ensure all transactions are accurately recorded
• Providing regular financial reports for management review
• Assisting with year-end accounting and audit preparation for seamless financial management

Our payroll management encompasses calculating and distributing employee salaries, wages, bonuses, and benefits. Lexarox Accounts provides efficient payroll services and ensures adherence to employment laws and regulations.

What It Covers:

• Calculating employee wages, salaries, overtime, and bonuses
• Processing statutory deductions such as PAYE, National Insurance, and pensions
• Generating payslips and handling payroll queries from employees
• Managing year-end payroll reporting and submissions to HMRC
• Ensuring compliance with all relevant payroll legislation

Lexarox Accounts prepares and files Self-Assessment tax returns, ensuring accuracy and compliance.

What It Covers:

• Gathering and reviewing relevant financial information for the tax year
• Calculating your tax liability, including any allowable expenses and reliefs
• Preparing and submitting the self-assessment tax return (SA100 form) to HMRC
• Advising on payment deadlines and setting up payment plans if necessary
• Handling any queries or issues raised by HMRC regarding your return

CIS Returns refer to the monthly reporting required under the Construction Industry Scheme (CIS). Lexarox Accounts ensures compliance with CIS regulations by accurately preparing and submitting these returns on behalf of contractors.

What It Covers:

• Verifying subcontractors with HMRC and deducting the appropriate amount of tax
• Maintaining detailed records of payments made to subcontractors
• Preparing and submitting monthly CIS returns to HMRC
• Providing subcontractors with payment and deduction statements
• Handling any queries or inspection requests from HMRC related to CIS

Company Formations involve the legal process of incorporating a new business entity. Lexarox Accounts facilitates this process, ensuring that all statutory requirements are met for your company to be established smoothly.

What It Covers:

• Advising on the most suitable business structure (e.g. limited company, partnership, sole trader)
• Preparing and filing incorporation documents with Companies House
• Drafting and filing necessary documents, including the Memorandum and Articles of Association
• Registering the company for Corporation Tax, VAT, and PAYE as needed
• Providing ongoing support and advice to ensure compliance with statutory obligations