Established in 2013, Lexarox Accounts was initially conceived with the vision of helping European foreigners entering the UK to establish themselves as commercial enterprises that were compliant with UK law and regulations. Today, this growing financial and legal consultancy firm is committed to guiding small to medium businesses from the UK, Europe and beyond to financial success. Led by Managing Director, Andreea Deac, Lexarox is a multicultural hub of insights and experience that culminates in market-leading solutions for success.
Lexarox Accounts is a specialised consultancy and professional services provider that is fully registered with HMRC Tax Body for Agents and Advisers, that is committed to providing complete and wellinformed accounting solutions and services to small to medium-sized companies and selfemployed individuals.
Initially, Lexarox was established in October 2013 by Andreea Deac to help European foreigners new in the UK, although not exclusively, to understand better the steps, responsibilities and benefits implied in commercial activity in the UK, and to guide them in living and complying with the country’s laws and regulations. Andreea’s vision was to create a company built on trust and longstanding relationships with clients and, seven years later, it is clear she is accomplishing this dream.
Still driven with these core values of trust and partnerships at the fore of the business, Lexarox’s knowledge and expertise have developed to accommodate the diverse needs of their clients, collaborating with them to ensure that they are always able to provide realistic solutions that are compliant with the ever-changing nature of the law. Familiar with the experience of arriving in a new country to set up a business, Andreea and her team understand how starting out in London or anywhere else in the UK, whilst exciting, is not always straightforward.
Operating with professionalism and attention to detail, the team at Lexarox uses their own experiences of dealing with personal, communicational and bureaucratic limitations to build relationships with their clients so as to act as a trusted guide. Today, Lexarox has a portfolio of over 700 clients that they keep accounts for, which includes more than 200 companies and 500 self-employed individuals all over England and Wales. When Lexarox first began operating, its clientele was predominantly made up of skilled workers and business owners of London’s expat communities. Lexarox also assisted unemployed workers to apply for various governmental social programs as well as to gain residential status and citizenship in the UK.
Lexarox’s clientele has expanded to include companies in a broad spectrum of industries, from transport and delivery to cleaning, beauty and healthcare to construction, consultancy businesses, hospitality, food shops and ecommerce. In short, Lexarox provides its services to all those wishing to trade in the UK, or those who are already trading here and are seeking additional services to enhance their business. 90% of these clients have been generated from positive referrals, as even when Lexarox does not have the facility to provide the perfect solution to a potential client, the team will help instead by connecting them with one of Lexarox’s collaborators who specialise in other areas of expertise. The remaining 10% of new clients are reached through online platforms and other advertising channels and, whilst Lexarox takes great pride in the percentage of clients accrued through word of mouth, the firm is always focused on increasing its brand awareness.
The company’s comprehensive services in finance and legal include Consultancy, complete with a ‘New in the UK’ guide, Registering or De-registering as Self Employed, Bookkeeping, Tax Returns, Penalty appeals, Tax investigation and more. For Limited Liability companies, Lexarox is able to perform services in registering the company with Companies House and HMRC, Bookkeeping, Annual Accounts, Computation and Tax Return, Confirmation Statements, Payroll, VAT Return including EU VAT declarations, Construction Industry Scheme (CIS), Company strike off, Accessing cloud accounting software, and Financial and legal business consultancy and tax planning.
With their unparalleled expertise and industry insights that have been acquired as a team through experience across a broad range of sectors, Lexarox is committed to helping clients be as tax efficient as possible. Whilst there are many small businesses on the market that are similar to Lexarox, the firm stands out for its delivery of services with a client-centric approach that prioritises the establishment of strong partnerships between the company and the client. As a result, Lexarox is able to help them in a way that is most beneficial to the client, giving them the confidence to focus on the bigger picture with the help of Lexarox’s advice and the team’s undertaking of smaller, time-consuming tasks. Together, Lexarox helps clients to save time, money and resources in the pursuit of their financial and business goals.
Lexarox therefore invests heavily in itself, so as to deliver the best standard to its clients. The team is led by Andreea, who herself is an accounting technician with a Master of Laws and Legal Practice Diploma from The University of Law in London. Her expertise in Contract Law, Business Law, Taxation, Dispute Resolution and more has equipped her with the knowledge and experience to create well-informed solutions in both business and legal issues for her clients, both in the UK and the US.
As for the team itself, they, like Andreea and many of Lexarox’s clients, know what it is like to arrive in the UK and have to adapt and understand a new society, as well as tackle the various legal and administrative processes that comes with. The firm is therefore committed to providing their expertise to clients in a similar position, making life easier by perhaps even speaking their native language – Lexarox is unique in having eight different languages spoken in their team.
“Our workplace is a happy and fun place,” says Andreea. “It sounds weird for an accountancy practice, but our office is like that. There is always music in the background and laughs over the phone with clients. Coming daily to the office is a joy for everyone even if we are working a lot and deadlines become stressful. Employees are motivated and they feel part of the growing progress of the firm. As we mainly work in
teams, everyone feels important in their own role and when engaging in new projects. We offer flexibility for our staff members that have children or in education. We organize many out of office activities, such as team building and drinks out. We are like a family.”
Recognising the importance of the team to Lexarox’s success, the company promotes and encourages their development, investing in personnel skills and education so that every member can evolve to become a strong, highly skilled individual. Through attendance at specialised workshops and seminars, or studying for a variety of qualifications, Lexarox’s team are committed to growing on a personal level, so that at a professional level, Lexarox can offer their clients exceptional services that are time and cost efficient.
Moreover, Lexarox stays at the cutting-edge of technological developments, leveraging IT insights and accounting and bookkeeping software so as to enhance their own offerings to clients. A sizeable proportion of the accounting system is now automized, which is a trend that
has been accelerated in recent months with the growth of remote working due to Covid-19. The result is faster, more efficient accounting processes, which are beneficial to both Lexarox and its clients.
Lexarox may have been based in the same space in Hackney for six years, but their office has grown continually since its inception, and has thrived in the bustling business region of London fields. Typically, Lexarox recruits through online platforms, but ad-hoc resumes are always welcome as part of the firm’s ambitions to continue growing.
This growth will not always be straightforward, namely due to the ever-changing nature and uncertainty of legislation, particularly in current climates of Brexit. With changes happening on the daily and new updates to legislation and practices introduced at unprecedented rates, Lexarox is tasked with checking the feasibility and compliance of client’s demands and plans on a regular basis. New rules on everything from imports and exports, VAT, IR35, Covid-19 regulations and so on will require regular review
by accounting and financial consultancies across the country.
However, Lexarox is excited for 2021, which holds several significant projects for the firm including the launch of two new branches of the company. The first branch (Lexarox Payroll) will deal in payroll services only, and the team are preparing ahead for the IR35 Off Payroll Rules that are due to begin in April 2021. The second branch will be Lexarox Legal, a legal consultancy department that would offer professional legal advice for business and individuals and that would make the most of the firm’s existing collaborations with law firms across the UK, USA and Europe. Covering business commercial law to tax law to contract law and beyond, Lexarox Legal will be committed to continuing the fulfilment of Lexarox’s ongoing mission to help small business owners, sole employers, self-employed individuals and more achieve their financial and career goals.