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 rarely fits a standard template, because income arrives from several directions and costs behave differently from a typical retail business. A few of the challenges we see most often with pharmacists and pharmacy businesses in Retford include:
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 core service covers annual accounts, Self Assessment tax returns, Corporation Tax computations where relevant, bookkeeping, payroll and ongoing tax planning. Many pharmacy clients also need management accounts to track performance through the year, VAT support where registration applies, and help keeping financial records organised and compliant. Exactly which elements you need depends on whether you are a locum pharmacist, a sole trader, a partner in a pharmacy, or a director of a limited company, so the package is put together around your circumstances rather than a fixed template.
Not at all. We work with locum pharmacists, self-employed pharmacists running sessions across several pharmacies, community pharmacists, independent pharmacy owners, pharmacy partnerships and limited companies operating one or more branches. Some clients need a straightforward Self Assessment return each year, while others need full business accounting, payroll for dispensary staff and support with how profits are extracted. If your work sits anywhere within pharmacy, there is likely a version of our service that fits.
Pharmacy income often arrives as NHS payments, private prescription income, over-the-counter sales and, for locums, session fees from multiple contracts. Each stream needs to be recorded clearly so the figures in your accounts and tax return are accurate and defensible. We set up bookkeeping that separates these sources sensibly, which makes it far easier to see where the money is actually coming from and to identify costs that relate to a particular activity. How each item is treated for tax purposes depends on your individual circumstances.
If you are self-employed, work as a locum, or receive income that is not taxed at source, you will usually need to file a Self Assessment return. Many pharmacists who also hold an employed role find they need to report additional income alongside their salary. The deadlines are fixed, and penalties apply for late filing, so it is worth confirming your position early rather than assuming HMRC will not notice. Whether a return is required, and what must be included, depends on your own circumstances.
Yes. Pharmacists typically incur costs for professional registration, indemnity insurance, continuing professional development, professional body subscriptions, specialist clothing and travel between pharmacy locations. Whether a particular expense can be claimed, and how much, depends on the nature of the cost and your individual circumstances, so we review each item rather than applying a blanket rule. Keeping good records throughout the year makes this far simpler when it comes to preparing the return.
We do. Bookkeeping is often the area pharmacy owners find hardest to keep on top of, because dispensary takings, supplier invoices, staff costs and NHS income all need recording accurately and consistently. We can maintain your records through the year or review what you already keep, and we run payroll for dispensary staff, counter assistants and other employees, including the associated filings. Staying current makes year-end accounts and tax returns far more straightforward.
VAT registration depends on your taxable turnover and the nature of what you supply, and pharmacy businesses often have a mix of zero-rated, exempt and standard-rated items, which complicates the picture. Whether registration is required, and whether a particular supply is taxable, depends on your individual circumstances. Where VAT does apply, we can help with returns and record keeping so the position is handled properly rather than guessed at.
Switching is usually far less disruptive than people expect. We ask for permission to contact your current accountant, request the relevant records and professional clearance, and take it from there — you do not need to manage that conversation yourself. Once everything is in place, we review your position and explain what happens next. Getting started is simply a case of getting in touch and telling us where things currently stand, and there is no obligation at that first conversation.
