Accountancy questions answered — Winchester & Hampshire

The best way is a free 30-minute consultation — no pressure, no obligation. We'll ask about your business, where you're at, and what you need. If we're a good fit, great. If not, we'll tell you honestly and point you in the right direction. Book your free call here.

We handle the entire switching process for you. Once you've signed up, we contact your previous accountant directly to request your historical records and complete Professional Clearance — it's a standard process and we deal with it so you don't have to. Most clients are up and running within a week.

As early as possible — ideally before you incorporate or start trading. Getting the right structure, VAT registration and accounting systems in place from day one is far easier than unpicking mistakes later. That said, it's never too late. We work with businesses at all stages, from brand new start-ups to established companies with £10m turnover.

We're based in Winchester but work with clients across the UK. Most of our work is done remotely through Xero, email and video calls, so location is no barrier. For clients who prefer face-to-face meetings, we're happy to accommodate that locally.

All packages include a Xero subscription (our recommended software), quarterly MTD submissions, statutory accounts, corporation tax and ongoing support. The Core and Complete packages add VAT returns, payroll, management accounts and more. Full details are on our Services page. We also offer sector-specific packages for hospitality and construction businesses.

Our packages are fixed monthly fees — no surprise bills, no hourly charges for quick phone calls. The price we agree at the start is the price you pay. If your business grows and your needs change, we'll have a conversation about adjusting the package. We always give you plenty of notice before any changes.

Yes. Payroll is included in our Core and Complete packages (up to 5 employees on Core, variable/larger workforces on Complete). We handle PAYE calculations, RTI submissions to HMRC, pension auto-enrolment and payslips. You simply approve the payroll and make the payments — we handle everything else.

We support you through any HMRC enquiry or investigation — handling all correspondence, preparing documentation and representing your position. Keeping your records accurate throughout the year, which we do as part of every package, significantly reduces the likelihood of an enquiry in the first place.

It's also worth considering tax investigation insurance, which covers the professional fees involved if HMRC does open an enquiry. If you're a member of organisations such as the Federation of Small Businesses (FSB), tax investigation cover is often included as part of your membership — so it's worth checking before taking out a separate policy. We're happy to advise on the options that suit your situation.

Not at all — we set it up for you and show you the basics. Xero is designed to be user-friendly, and most clients only need to do a few simple tasks like coding transactions or sending invoices. We handle the complex accounting side. If you ever get stuck, just ask — that's what we're here for.

Yes — all Lumi packages include your Xero subscription at no extra cost. We're Xero Certified Advisors, so we set it up correctly for your business from day one and manage it on your behalf.

Xero is our recommended software — it gives both us and you the best real-time visibility over your finances, and is included in all packages at no extra cost. That said, we're happy to assist on other software if you'd prefer to stay with what you have. If you do switch to Xero, we'll handle the migration and make the transition as smooth as possible.

Making Tax Digital (MTD) is HMRC's programme to digitise the UK tax system. MTD for VAT is already mandatory for all VAT-registered businesses. MTD for Income Tax now applies to sole traders and landlords with income over £50,000 (from April 2026), and will extend to those with income over £30,000 from April 2027. All Lumi packages are MTD-compliant — we handle all digital submissions so you don't need to worry about it.

You must register for VAT once your taxable turnover exceeds £90,000 in any rolling 12-month period. However, voluntary registration can sometimes be beneficial — particularly if your customers are VAT-registered businesses (as you can reclaim input VAT). We'll advise on the right time to register and handle the process for you.

For most limited company directors, the most tax-efficient approach is a combination of a low salary (typically around the National Insurance threshold) and dividends. This minimises NIC liability while still building your NI record. The exact mix depends on your personal circumstances, other income and the company's profitability — we'll work out the optimal split for you as part of your package.

As a sole trader, you and your business are legally the same entity — you're personally liable for any debts. As a limited company, the business is a separate legal entity with limited liability. Limited companies are often more tax-efficient than operating as a sole trader, though the right answer depends on your individual situation — income level, expenses, growth plans and personal circumstances all play a part. We'll work through the numbers with you. We'll help you weigh up the pros and cons for your specific situation.

We review your allowable expenses, salary/dividend structure, pension contributions, capital allowances and timing of income and expenditure — all legally and within HMRC guidelines. We don't wait until year-end to think about your tax position. We review it throughout the year so there are no nasty surprises in January.

We aim to respond to all emails within 1 business day. On the Complete package, you also get unlimited phone support — so if you need a quick answer, just call. We won't ghost you when deadlines are looming.

Yes. You'll always deal directly with Chris Sullivan, our founder and an ICAEW Chartered Accountant. There are no juniors handling your account, no call centres, no being passed around. We believe that's fundamental to good accountancy.

Yes. Lumi Accountancy is a Registered Member Firm of the ICAEW (Institute of Chartered Accountants in England and Wales), Membership no. C011009337. We're also Xero Certified Advisors and Making Tax Digital ready. You can verify our ICAEW membership on the ICAEW's public register.

All packages are billed monthly by direct debit. There are no large upfront fees, no annual invoices to budget for — just a simple, predictable monthly payment that covers everything in your package.