Specialist Accountants for Pharmacies & Locum Pharmacists
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NHS and private income reconciliation, stock valuation, capital allowances on dispensing robots, and profit extraction for owners.
Self-assessment, IR35 status on agency work, mileage and expense claims, and limited company versus sole trader comparisons.
Management accounts per branch, acquisition and goodwill advice, and funding forecasts for buying a second or third pharmacy.
VAT on zero-rated and standard-rated lines, e-commerce bookkeeping and stock control for distance-selling pharmacies.
We reconcile EPS and NHS schedules against till takings, track stock movements and keep your books ready for review at any point in the year.
Dispensed NHS medicines are zero-rated while over-the-counter sales and services are standard-rated. We get the split right and reclaim what you are due.
Company or sole trader returns prepared with every allowable cost claimed, from GPhC registration and indemnity to training and fixtures.
Payroll for pharmacists, technicians, dispensers and delivery drivers, plus workplace pension auto-enrolment and statutory pay.
Status reviews on agency and locum engagements, expense claims and the most efficient trading structure for your level of income.
Pharmacy businesses rarely have a simple financial picture. Income arrives from several directions, costs are constantly moving, and the rules around tax and VAT can depend heavily on your structure and circumstances. Here are the challenges we help Ashington pharmacists manage most often.
Drug tariff, category M, EPS reconciliation and stock valuation — no explaining required.
One qualified point of contact who knows your branch, your numbers and your plans.
Xero, QuickBooks or Sage linked to your bank and till so figures are current, not six months old.
Management accounts showing dispensing margin, retail margin and profit per branch.
One agreed monthly fee with no hourly billing and no unexpected invoices.
We work with pharmacies, GP practices, dentists and clinics, so the sector is all we do.
We begin by getting to know your practice and understanding your unique needs. This step ensures we have a clear picture of your operations and your goals.
Based on our initial discussion, we create a personalised plan designed specifically for you. The aim is to keep everything organised and easy to follow. You can rest assured that your numbers are being handled with expert precision.
From there, we take care of the ongoing work and keep you updated with reports. You’ll always know what’s happening, and we’re always here to answer your questions, ensuring you have a clear picture of your financial health at all times.
Using the latest technology to offer customised financial strategies that help healthcare practices grow and thrive.
A dedicated accountant who understands pharmacy margins, stock and NHS reimbursement.
Our team is here whenever you need guidance. We offer unlimited support to ensure your financial management is always on point.
Our team has over 100 years of combined accountancy experience.
Never Miss any deadline with our automated email reminders.
We’re an ICAEW, ACCA & AAT accredited Firm.
Take a back seat and let our pharmacy accountants handle everything. Switching mid-year is simple and you never need to contact your old accountant:
Reach out to us, and we’ll discuss your needs and how we can help your healthcare practice thrive.
We’ll send over a simple letter to formalise our partnership and get everything in motion.
If you're switching, we’ll take care of contacting your previous accountants to make the transition smooth.
From there, sit back and relax. We’ll manage your accounts, taxes, and everything in between, keeping your practice running smoothly.
The exact mix depends on your circumstances, but most clients receive a combination of annual or statutory accounts, tax returns and computations, bookkeeping support, and payroll for any staff they employ. We also provide tax planning, management accounts and VAT support where these are relevant to your business. Locum and self-employed pharmacists typically need Self Assessment together with help keeping records and claiming the right professional expenses, while pharmacy owners and limited companies generally need accounts, Corporation Tax and payroll running alongside each other. We set out clearly at the start what is and is not included, so there are no surprises later in the year.
Our Pharmacist Accountants in Ashington work with community pharmacists, locum pharmacists, self-employed pharmacists, pharmacy owners, independent pharmacies, pharmacy partnerships and related pharmacy businesses such as online dispensing operations or pharmacies with attached clinics. If you are newly qualified and starting out as a locum, running a single dispensary, or managing several sites with a team of staff, the underlying approach stays the same: we tailor the support to your structure, your income streams and the level of involvement you want from an accountant.
Pharmacy income rarely arrives as a single figure. NHS contract payments, private prescriptions, over-the-counter retail sales, locum fees and any additional services all need to be recorded separately so that your accounts and tax returns reflect them correctly. We help set up a bookkeeping routine that keeps these streams distinct, which makes it far easier to review performance, spot trends and complete your returns accurately. How each stream is treated for tax purposes can depend on individual circumstances, so we look at your particular arrangements before advising rather than applying a one-size-fits-all approach.
If you are a locum or self-employed pharmacist, you will normally need to report your income through Self Assessment. Many pharmacists who are employed and also take on locum shifts, or who receive untaxed income from other sources, need to file as well. Whether you need to file, and what you can claim against your income, depends on your individual circumstances. We prepare returns, review the expenses you are entitled to claim, and make sure submissions and payments reach HMRC on time so you avoid unnecessary penalties and interest.
Typical costs that pharmacists ask about include professional registration and regulatory fees, indemnity or professional insurance, continuing professional development and training, specialist equipment, business mileage, and a proportion of home costs where you genuinely work from home. Whether a particular expense is allowable depends on individual circumstances, including whether it was incurred wholly and exclusively for your work and whether you are employed or self-employed. We review your spending with you and identify what can properly be claimed, rather than guessing or overstating.
Yes. We can take on bookkeeping whether you prefer to hand over paperwork, share a spreadsheet or use cloud accounting software, and we can work with the records you already have. Payroll covers dispensary staff, counter assistants, relief pharmacists and managers, including PAYE, national insurance and pension auto-enrolment duties, along with the reporting that accompanies them. For pharmacies with a high volume of transactions and several wholesalers, a regular bookkeeping rhythm keeps everything accurate and makes the year end significantly less stressful.
VAT is a common source of confusion for pharmacy owners because different elements of your income and supplies can be treated differently for VAT purposes, and some activities may be exempt while others are standard rated. Whether you need to register, when registration applies and how it affects your pricing and margins depends on your individual circumstances and turnover. We review your position, explain the practical implications in plain English, and handle VAT records and returns where they apply to your business.
Absolutely. If you are moving from another accountant, we handle the transition, request the relevant information and liaise with your previous adviser so the change is as smooth as possible. If you are considering whether to operate as a sole trader, a partnership or a limited company, we can talk through how each option affects your tax position, reporting obligations and how you take money out of the business. The right answer depends on your circumstances, your plans for the business and how you want to be paid, so we discuss the options with you before recommending anything.
The first step is simply to get in touch and tell us about your work and what you need help with. We will arrange an initial conversation, ask about your income sources, your current record keeping, any deadlines coming up and whether you employ staff. From there we explain what support would suit you and answer any questions you have. If you are happy to proceed, we put everything in place and agree a clear point of contact, so you always know who to speak to and what happens next.
