Specialist Accountants for Opticians & Optometrists
Accountants for Opticians in Streatham
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Optical Professionals and Practices We Support
Independent Opticians
GOS income reconciliation, VAT apportionment between exempt sight tests and taxable dispensing, stock control and owner profit extraction.
Locum Optometrists
Self-assessment, IR35 status on agency work, GOC and professional fees, mileage between practices and equipment claims.
Optometry Clinics & Multiples
Management accounts per branch, partial exemption calculations, payroll for optical assistants and funding for new sites.
Private & Specialist Eye Care
Ophthalmology and refractive surgery providers: company accounts, VAT on cosmetic versus medical treatment and capital allowances on equipment.
Our Accounting Services for Optical Practices
Optical Tax Planning
Incorporation reviews, capital allowances on OCT scanners and consulting room fit-out, and profit extraction planning for practice owners.
Payroll & Pensions for Optical Staff
Payroll for optometrists, dispensing opticians and optical assistants, plus auto-enrolment, statutory pay and locum payments.
Bookkeeping for Optical Practices
Cloud bookkeeping that reconciles GOS payments, private fees and retail till takings so your figures are accurate all year.
VAT Apportionment for Opticians
Sight tests are exempt while frames and lenses are taxable, so a mixed supply needs apportioning. We use an HMRC-acceptable method and defend it if queried.
Management Accounts & Reporting
Reports showing tests per day, dispensing conversion, margin per branch and profit trends, so decisions are based on real numbers.
Key Accounting Challenges for Optical Businesses
Optical businesses rarely have a single, simple income stream. Professional fees, NHS or private work, retail sales of spectacles and contact lenses, and stock held for resale can all sit in the same set of accounts, which makes accurate record keeping and tax reporting more involved than it first appears.
- Multiple Income Streams — Professional fees, NHS work and retail sales of spectacles and lenses need separate, accurate recording so reporting stays clear and defensible.
- Stock and Inventory — Frames, lenses and contact lenses tie up working capital, so stock values and cost of sales must be tracked carefully through the year.
- VAT on Mixed Supplies — Professional optical services and optical goods can be treated differently, so VAT depends on the nature of each supply and the business circumstances.
- Equipment and Practice Costs — Specialist testing equipment, fit-out costs and premises overheads need to be recorded and treated correctly for tax purposes.
- Payroll and Staffing — Employed optometrists, dispensing opticians, retail staff and locum payments each carry different payroll, tax and record-keeping obligations.
Why Specialist Accounting Support Matters for Optical Businesses
Real Optical Expertise
GOS income, voucher values, partial exemption and dispensing margin — no explaining required.
Built Around Your Practice
Independents, multiples and locum optometrists each get a different service, not a template.
VAT Apportionment Done Right
We use a defensible apportionment method and keep the workings ready in case HMRC asks.
Fixed, Transparent Fees
One agreed monthly fee with no hourly billing and no surprises at year end.
Clear Margin Reporting
Management accounts that show where the profit actually comes from, test by test and branch by branch.
Named Accountant, Real Answers
You deal with the same qualified person every time, by phone or email, not a call centre.
Our Simple 3-Step Process for Optical Businesses
1. Initial Consultation (It’s Free):
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.
2. Customised Plan:
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.
3. Ongoing Support & Updates:
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.
Accounting Support Built for Optical Practices
Technology Driven
Using the latest technology to offer customised financial strategies that help healthcare practices grow and thrive.
Named Optical Accountant
A dedicated accountant for opticians who understands GOS income, stock and dispensing margin.
Ongoing Support
Our team is here whenever you need guidance. We offer unlimited support to ensure your financial management is always on point.
Experienced Team
Our team has over 100 years of combined accountancy experience.
Free - Email Reminders
Never Miss any deadline with our automated email reminders.
Yes, We Are Chartered!
We’re an ICAEW, ACCA & AAT accredited Firm.
How to Join/Switch
Take a back seat and let our expert accountants handle everything. Here’s how easy it is to get started with us:
Get in touch
Reach out to us, and we’ll discuss your needs and how we can help your healthcare practice thrive.
Letter of Engagement
We’ll send over a simple letter to formalise our partnership and get everything in motion.
Previous Accountants
If you're switching, we’ll take care of contacting your previous accountants to make the transition smooth.
We Do the Rest
From there, sit back and relax. We’ll manage your accounts, taxes, and everything in between, keeping your practice running smoothly.
FAQs
They handle the accounting and tax work that optical professionals and practices need, including bookkeeping, Self Assessment, annual accounts, Corporation Tax, payroll and VAT support where relevant. The aim is to keep financial records accurate, meet filing obligations and make sure income from clinical work and optical goods is reported correctly.
Support can cover self-employed optometrists and dispensing opticians, locums, independent opticians, practice owners, partnerships and limited companies running optical businesses. The accounting requirements differ depending on how each professional or practice earns income and how the business is structured, so the approach is tailored accordingly.
Yes. Self-employed optometrists and dispensing opticians often need Self Assessment support, help recording professional income and expenses, and guidance on allowable costs such as equipment, insurance and professional fees. What can be claimed depends on individual circumstances, so each position needs to be considered on its own facts.
It varies. A practice may need bookkeeping, payroll for clinical and retail staff, management accounts, annual accounts and Corporation Tax. Practices holding stock such as frames, lenses and contact lenses also need inventory and cost of sales recorded properly. Not every practice requires every service.
Sometimes. Optical businesses can supply professional optical services as well as optical goods such as spectacles, contact lenses and accessories, and these supplies can have different VAT treatments. Whether VAT registration is needed and how each supply is treated depends on the nature of the supply and the circumstances of the business.
Stock such as frames, lenses and contact lenses should be recorded consistently so closing stock and cost of sales are accurate. Business expenses, including equipment, premises costs and professional fees, should be supported by records and classified correctly, as the tax treatment depends on what the expense is and how it is used.
Yes, switching is usually straightforward. We can review your current position, identify the records and information needed, and take over the ongoing accounting and tax work. Any handover arrangements depend on your existing accountant and the state of your records.
Get in touch and tell us about your optical work or practice, including your structure, income streams and the support you need. From there we can review your accounting requirements and set out how ongoing bookkeeping, tax and payroll support would work for you.