FAQs 2017-12-07T18:26:59+00:00

Frequently Asked Questions

Can you help us with Auto-Enrolment? 2017-11-29T12:10:51+00:00

Yes of course. This will be an additional service to your Payroll. We’ll provide a professional service and assist you with the Auto-Enrolment Pension Scheme by registering your company and setting up your company accounts with the Pension provider of your choice. Your staff will be assessed and enrolled into a workplace pension scheme. We will calculate contributions and payment schedules. Also, we will help you with the Declaration of Compliance etc.

How much would you charge me? 2017-11-29T12:10:18+00:00

You will understand that every business is different, and their needs and requirements vary so much. Our prices are based on the size and type of business. Maybe this involves VAT, Payroll Services, Auto-enrolment, Fixed Assets etc. We can arrange an initial meeting, at no cost to you, and we’ll go through everything with you. Most of our clients prefer a fixed monthly agreed fee. This way they can control their monthly budget efficiently. One thing to remember is that you will receive a friendly, efficient and confidential service – Professionalism in all we do!

Won’t I lose control if my books are done by someone else? 2017-11-29T12:09:47+00:00

Of course not. You will receive a set of management accounts at the frequency to suit you. This could be weekly, monthly or quarterly. This will enable you to see exactly how you are doing. If we see any potential problems we will let you know immediately. We won’t make a decision, if there are doubts or something isn’t clear, without confirming this with you first. Also, remember that LMS Accountancy Services is always just a phone call or email away, should you wish to discuss something.

If I already have an accountant how I would I go about switching to you? 2017-11-29T12:09:26+00:00

This happens often. The process will be quick, painless and embarrassment-free, leaving you to carry on with your business. Just give us the name of your Accountant and we will do the rest. A ‘Clearance Letter’ is all that it takes. This is normal, standard procedure.

I’m not in the West Midlands, will you still be able to help me? 2017-11-29T12:09:05+00:00

Distance won’t be an issue at all. Emails and the Internet are our saviours! If you can send all the relevant information by email, or even by post, this is all we need. We will do the rest. We are always up-to-date with the latest Accountancy and Payroll software.

I’m worried. My records are in a mess, all my invoices are in a ‘shoe box’ and now the taxman is after me. Can you sort this out? 2017-11-29T12:08:42+00:00

Of course, we can! Even if you have lots of receipts and invoices thrown into a shoe box LMS Accountancy Services will take them away and you will receive a clean and accurate set of accounts that will satisfy HMRC. We will discuss with you what you require and advise you how best to keep your papers in future. If you ever have any questions or concerns we’re only a phone call away – and you can be sure, we will have the answers for you.

Surely everything you are doing for me will cost me a lot of money? 2017-11-29T12:08:18+00:00

Not at all. And certainly not as much as you might think! We will save you money. Primarily because we will do everything for you, leaving you time to get on with your business, and also we know exactly what can be claimed for in order to reduce your tax liabilities. LMS Accountancy Services will attempt to save you more than the service costs. LMS Accountancy Services will not only save you money, you will have more time to spend relaxing with friends and family in the evenings instead of ‘Doing your Books.’

Do I need a business bank account or can I use my personal bank account only? 2017-11-29T12:07:45+00:00

The short answer is yes! A business bank account will help to keep tight control of your income and expenses. You need to be recognised as a reliable and stable business and you need to keep your personal account and business accounts separate. It will help you to avoid many issues that can arise with the Taxman.

I do my bookkeeping myself, why would I need a professional to manage my accounts? 2017-11-29T12:07:23+00:00

If you understand your business and your accountancy requirements, that’s great. We have found that most business people don’t fully understand what is required to keep their accounts in good order. We are professional in all we do, we are fully qualified and certified, to put it bluntly, we know the system and we know what pitfalls may be ahead! When doing your books yourself, eventually you could face serious consequences which would put you and your business at risk. We are registered and supervised by the Institute of Certified Bookkeepers, the world’s largest recognised professional body. We also have professional indemnity insurance, which protects us both.

Why should we come to LMS Accountancy Services? 2017-11-29T12:06:57+00:00

With over 30 years’ accounting experience in small, medium and large companies, LMS Accountancy Services has a professional and friendly attitude when it comes to controlling your finances. We keep up-to-date and accurate financial records, which is vital to any business, regardless of size, and we completely understand this. Each business will receive the same care and attention to detail, whether you are a sole trader, partnership or not-for-profit organisation.

With LMS Accountancy Services you will find everything you need. It will be a complete service for you. We will save you time, and more importantly… your money! We will allow you to concentrate on your business, which, after all, is what you want too.

Bookkeeping in Birmingham FAQs

I consider myself fortunate to have found Luba. I had recently started my hairdressing business and I was having difficulty in finding the time to keep my books in order. I knew nothing about bookkeeping. Luba has a very high level of commitment and really goes out of her way to help and get things done! Great service and I would 100% recommend LMS Accountancy Services.

Elaine, E & V Hairdressing

Confidentiality was important to me. I needed to find someone I could rely on. I wanted an individual who would be meticulous and, equally important, pleasant to work with and completely professional and reliable. Because of the work Luba has done and continues to do for us, we now have no bookkeeping or accounting concerns; returns are made on time, our accounts are prepared. We can’t praise her highly enough.

Robert, R L Consulting

One of my best business decisions was asking Luba to manage our bookkeeping and accounts. I always felt we were not claiming the full business expenses to reduce our tax bill. Luba confirmed this, and now we can relax in the knowledge that she works efficiently to help us to grow our business in the way we want.

Terry McDermott, TMD Agency

I work as a part-time teacher on a self-employed basis. I also have one other small business interest. Luba takes care of my self-assessment returns. She is friendly, efficient and explains everything to me in simple terms, which is what I need. Wish I’d found her earlier.

Cathy Jameson