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 single, simple income stream, and that is where many of the accounting difficulties begin. The points below outline the issues we see most often among pharmacists and pharmacy businesses in Barnard Castle, although how each one applies to you will depend on your own circumstances.
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.
Our support is built around the accounting and tax requirements of pharmacists and pharmacy businesses. In practice that usually covers bookkeeping, annual accounts for sole traders, partnerships and limited companies, Self Assessment tax returns, Corporation Tax computations and submissions, payroll for pharmacy staff, VAT support where a business is registered, and ongoing tax planning. The exact mix depends on how you work and how your business is structured, so we agree the scope with you before anything begins and set out clearly what is covered. Where something falls outside the agreed work, we will tell you rather than leaving you to discover it later.
We work with community pharmacists, locum pharmacists, self-employed pharmacists, pharmacy owners, independent pharmacies, pharmacy partnerships and other pharmacy businesses across Barnard Castle and the surrounding area. Some of our clients are individuals who simply need a Self Assessment return prepared correctly, while others run established businesses with employees, stock and multiple income streams. Because the focus is specifically on pharmacy, we can tailor the support to your situation rather than applying an approach designed for a different sector.
Both NHS and private income are taxable, and both need to be recorded accurately and supported by appropriate documentation, whether you operate as a sole trader, a partnership or a limited company. The way income is recognised and reported can vary depending on your structure and the arrangements you have in place, so the correct treatment does depend on your individual circumstances. In practice, the key is consistent record keeping throughout the year, with income and the related records reconciled regularly, so that the figures reported at year end reflect what actually happened.
If you are self-employed, work as a locum, receive untaxed income, or hold a directorship, you will usually need to file a Self Assessment return, and there are deadlines to meet along with potential payments on account. Whether a return is required in your specific case, and what needs to go on it, depends on your individual circumstances. We can confirm your position, prepare and submit the return, and help you plan for the tax that will be due so it does not arrive as an unpleasant surprise.
We can help you identify expenses that are relevant to your pharmacy work, such as professional registration fees, indemnity cover, training and travel, and make sure they are recorded properly with the supporting evidence needed. What counts as an allowable expense depends on your individual circumstances and on the rules that apply to your situation, so we work through it with you rather than offering a blanket answer. Just as importantly, we help you keep the records that make those claims straightforward to support if they are ever reviewed.
Bookkeeping can be managed throughout the year so your records stay accurate and up to date, which makes VAT returns, management accounts and year-end work considerably smoother. If you employ staff, we can run payroll on your behalf, handling PAYE, pension contributions, payslips and the associated record keeping, including the reporting required for each pay run. For pharmacy owners, we can also prepare management accounts that help you keep an eye on income, stock and business costs during the year rather than only at the end of it.
VAT treatment in pharmacy is not always straightforward, since different elements of your income may be treated differently, and whether registration is required depends on your circumstances and your taxable turnover. We can review your position, support VAT returns where you are registered, and advise on how VAT should be reflected in your day-to-day records. Similarly, whether a sole trader, partnership or limited company structure suits you best depends on your profits, your plans and your personal position, and we are happy to review that with you and revisit it as things change.
Switching is usually much simpler than people expect. We ask you to get in touch and tell us a little about your work and what you need, then we arrange a conversation about your accounting and tax requirements. If you would like us to take over from an existing accountant, we can handle the handover, including requesting the relevant information and records on your behalf, and we will explain what we need from you at each stage. From there, you receive ongoing support, and we remain available to answer questions as your circumstances develop.
