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 generate income from several directions at once, and that can make the bookkeeping and tax position far more complicated than it first appears. The points below cover the issues pharmacists and pharmacy owners most often ask us about, though how any of them is treated depends on your individual 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.
The scope depends on what you need, but in practice it usually covers preparing your Self Assessment tax return or pharmacy business accounts, keeping bookkeeping and financial records in order, and handling the filings that apply to you, such as Corporation Tax returns for a limited company or partnership returns where relevant. Payroll for dispensary, counter and other staff can be included, along with VAT support if the business is registered. We also provide tax planning and ongoing advice through the year rather than just at the year end. Because the right mix differs from one pharmacist to another, we set out exactly what is covered before we begin, so there are no surprises later.
They suit anyone working in pharmacy and pharmacy ownership. That includes locum pharmacists, self-employed pharmacists invoicing pharmacies directly, employed pharmacists with additional income streams, community pharmacists, independent pharmacy owners, pharmacy partnerships, and pharmacy businesses trading through a limited company. If your income comes from a mix of these sources, that is common and perfectly manageable, but it does mean the accounts need careful handling. We also work with pharmacy-related businesses where the accounting requirements overlap with what a pharmacy needs.
Yes, and separating the two clearly is one of the first things we look at. NHS income, private prescription income, over-the-counter sales and locum fees can all appear in the same year, and each needs to be recorded accurately so your accounts and tax return reflect what actually happened. The treatment of particular items, including how costs are allocated between income streams, depends on your individual circumstances, so we review your records rather than applying a blanket approach.
If you are self-employed, work as a locum, receive untaxed income, or have significant income from property or investments, a Self Assessment return is usually required. Employed pharmacists whose tax is fully collected through PAYE may not need to file one, but this is not always straightforward, especially where you have a second source of income or expenses to claim. Whether a return is required, and what can be claimed within it, depends on your own situation, so it is worth checking rather than assuming one way or the other.
Expenses that are incurred wholly and exclusively for the purposes of your work or business are generally the starting point, which for pharmacists can include professional registration and indemnity insurance, mandatory training and continuing professional development, specialist equipment, and travel between sites that is genuinely business related. Ordinary commuting is treated differently from travel to temporary or multiple work locations, and the rules are specific. Because eligibility depends on the exact nature of each cost and how you work, we review your expenses individually rather than giving a general answer that may not fit.
Bookkeeping is kept up to date so that income from NHS contracts, private sales and other sources is recorded correctly, along with stock purchases, supplier invoices, premises costs and wages. Keeping records current through the year makes the year-end accounts far quicker and reduces the risk of missed costs. On payroll, we can run the process for dispensary, counter and support staff, producing payslips, submitting real-time information to HMRC and dealing with the pension duties that come with employing people. If you already have a bookkeeper or payroll provider in place, we can work alongside them instead.
Whether VAT registration is required depends on your taxable turnover and the nature of what you supply, and once registered, pharmacies can face particular complications because some supplies are exempt and others are standard rated. That means partial exemption rules can apply, and the record keeping needs to reflect them. VAT treatment is very much a matter of individual circumstances, so we look at your specific income mix and explain what applies before recommending any approach.
Yes to both. If you are considering moving from sole trader to partnership or limited company, or reviewing an existing structure, we can talk through the practical and tax implications so you can decide with proper information in front of you. If you are switching accountants, we handle the handover carefully, request the necessary information from your previous adviser and make sure deadlines are met during the changeover. It is usually a smoother process than people expect, and you are welcome to get in touch for an initial conversation about where things currently stand.
