Specialist Accountants for Pharmacies & Locum Pharmacists
Running a pharmacy means living with the drug tariff, category M clawback, monthly NHS Prescription Services schedules and a stockroom worth tens of thousands. Our accountants for pharmacists in London handle the numbers behind all of it — for community pharmacy owners, independents, multiples and locum pharmacists. CruseBurke has advised British businesses since before the Second World War, so your accountant already speaks your language.
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As specialist pharmacist accountants we act for every part of the sector, and the tax issues are different in each case:
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.
Every service below is set up around pharmacy economics — dispensing margin, stock, staff cost and NHS payment timing — rather than a generic retail template.
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 margins are set by others. Reimbursement follows the NHS Drug Tariff, clawback is applied after the event, and stock ties up cash. These are the problems we deal with daily:
Category M clawback eating into dispensing margin
Splitting zero-rated dispensing from standard-rated retail VAT
Stock valuation and shrinkage distorting your profit
Cash flow while waiting on monthly NHS reimbursement
Locum cover costs and rising staff wages
IR35 uncertainty on locum and agency engagements
No plan for acquiring, expanding or selling the pharmacy
We are pharmacist accountants, not generalists. We know what a drug tariff schedule looks like, why your margin moved last quarter, and what a locum can legitimately claim. Here is what you get:
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.
Dealing with the numbers is not why you became a pharmacist. Our three-step process gets you set up quickly and keeps you informed all year:
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.
Our roots go back further than the Second World War and our team is built around healthcare. Here is what working with us looks like:
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.
Because we specialise in accounting for pharmacies. Therefore, we can customise our services as per your goals and needs.
Yes! We offer specialised accounting services for locum pharmacists. Thus, helping you manage your multiple income streams and ensuring tax efficiency.
Yes, we manage payroll. So your team gets paid correctly and on time.
Yes, we provide accounting for pharmaceutical companies and help them stay compliant.
Yes, all our accounting for pharmacies in London services comply with UK tax laws.
Just give us a call or drop us an email for a free consultation. We’ll review your situation and help take the stress out of your accounts. It’s that easy!
NHS dispensed medicines supplied on prescription are zero-rated, while over-the-counter products, cosmetics and most services are standard-rated. Getting the split wrong is one of the most common pharmacy VAT errors, so we set up your till and bookkeeping to separate them automatically.
Category M adjusts reimbursement prices to recover margin the Department of Health believes pharmacies have already earned, which means income can be reduced after you have dispensed. We build expected clawback into your forecasts so it does not wreck your cash flow.
Yes. Travel between locum placements, GPhC registration, indemnity insurance, professional subscriptions, training, and a proportion of phone and home office costs are usually allowable. We review your engagements individually.
It depends on your profit level and whether your engagements sit inside IR35. A company can be more tax-efficient at higher profits but adds filing obligations. We compare both on your real figures first.
Yes. Stock is often one of the largest figures on a pharmacy balance sheet, and it directly changes your taxable profit. We advise on the count, the valuation basis and how to treat short-dated or damaged lines.
Yes. We prepare and review financial information for the deal, advise on goodwill and asset versus share purchase, model the funding, and handle the tax planning on a sale.
