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 accounting comes with a set of pressures that most general accounting arrangements simply are not set up to handle. Income arrives from several different directions, costs are constantly moving, and compliance deadlines do not wait for a quiet week. Here are some of the challenges we help pharmacists and pharmacy businesses in River Tyne work through.
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 service is built around the accounting and tax obligations that pharmacists and pharmacy businesses face day to day. Depending on your circumstances, it can include Self Assessment tax returns for locum and self-employed pharmacists, annual accounts and Corporation Tax computations for limited companies and partnerships, bookkeeping carried out or reviewed throughout the year, payroll and pension administration for dispensary and counter staff, management accounts, VAT support where registration applies, and tax planning that takes your particular income mix into account. We agree the scope with you at the outset so you know exactly what is covered.
It is designed for pharmacists and pharmacy businesses of all sizes. That includes community pharmacists, locum pharmacists working across multiple sites, self-employed pharmacists providing clinical or advisory services, pharmacy owners and directors, independent pharmacies, pharmacy partnerships, and pharmacists who run a limited company or hold additional business interests alongside their professional work. If your income comes from pharmacy work or your business operates in the pharmacy sector, the support is structured around your needs rather than a generic template.
Pharmacy income rarely arrives from one place, so we start by mapping out exactly where your money comes from — NHS dispensing payments, private prescription income, clinical service fees, locum fees, retail sales and any other streams. Each source is recorded accurately and treated according to its nature and your business structure, because the accounting and tax treatment can differ between them. Where a particular item depends on your individual circumstances, we explain the position clearly and set out the options available so you can make an informed decision.
Commonly claimed costs include professional registration and professional body fees, indemnity or professional liability insurance, specialist equipment and uniforms, subscriptions to professional publications, and travel between work locations where it is genuinely business related. What is allowable depends on your individual circumstances, your employment or self-employment status, and whether a cost is wholly and exclusively for business purposes. We review your expenditure carefully and advise on what can be claimed, keeping appropriate records to support each entry.
Yes. Bookkeeping can be handled for you or reviewed and kept on track throughout the year, so your records remain accurate and ready for accounts preparation, lender enquiries or HMRC checks. On the payroll side, we can administer PAYE for dispensers, counter staff, pharmacy technicians and managers, including payslips, starters and leavers, statutory payments, Real Time Information submissions and pension auto-enrolment duties. Keeping payroll and bookkeeping joined up means your year-end figures reconcile properly and nothing is missed.
Whether VAT registration is required depends on your taxable turnover and the nature of your supplies, and it can differ considerably between a locum pharmacist, a self-employed practitioner and a retail pharmacy. Some income is exempt or outside the scope, while retail sales and certain private services may be taxable. We review your position, monitor it as your business changes, and where registration applies we can manage VAT returns and record keeping. Because the rules interact with your individual circumstances, we advise on your specific situation rather than offering a general answer.
Yes, and it is a decision worth reviewing periodically as your income and responsibilities change. Sole trader status suits many locum and self-employed pharmacists, while partnerships are common where two or more pharmacists share ownership, and a limited company can be appropriate for larger operations or where profits are retained in the business. Each structure carries different tax, filing and administrative consequences, and the right answer depends on your profits, plans and personal position. We set out the practical implications clearly so you can choose with confidence.
Switching is usually far less disruptive than people expect. We contact your existing accountant on your behalf to request the relevant records and professional clearance, review the information provided, and confirm what still needs to be completed for the current period. Once everything is in place, we take over the ongoing work, agree deadlines and make sure nothing falls between the two firms. If you have outstanding returns or records that need tidying up first, we will tell you honestly what is involved and work through it step by step.
