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 finances rarely fit neatly into standard small business accounting. Income arrives from several directions at once, costs are specific to the sector, and the correct tax treatment often depends on your individual circumstances. These are the areas we see most often in Royal Wootton Bassett.
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 support is built around your circumstances, but most pharmacists and pharmacy businesses come to us for a combination of Self Assessment, annual accounts, bookkeeping, Corporation Tax returns, payroll, tax planning, management accounts and VAT support where relevant. If you are a locum or self-employed pharmacist, your package is likely to focus on accurate record keeping and a well-prepared Self Assessment tax return. If you own a limited company pharmacy, it will typically include statutory accounts, Corporation Tax, payroll for your team and ongoing bookkeeping. We will confirm exactly what is covered before you commit, so there are no surprises.
We work with locum pharmacists, self-employed pharmacists, community pharmacists with mixed employed and self-employed income, pharmacy owners, independent pharmacies, pharmacy partnerships, pharmacy managers and those preparing to buy into or sell a pharmacy. The arrangements differ — sole traders, partnerships and limited companies all have different reporting and tax requirements — so we take the time to understand your working pattern before recommending how to proceed. If you are unsure whether your situation fits, a short conversation is usually enough to establish that.
Pharmacy income can come from several sources, including dispensing income, private prescriptions, counter and retail sales, additional services and locum fees, and each needs to be recorded accurately and consistently. How much tax is ultimately payable, and when, depends on your business structure, your other income and your individual circumstances, so there is no single answer that applies to every pharmacist. What we do is make sure every source of income is captured properly, reported correctly and supported by records that stand up to scrutiny.
Many pharmacists do, particularly if you work as a locum, are self-employed, receive untaxed income, or have income from a pharmacy business in addition to employment. Whether a return is required depends on your total income, its sources and your employment position, so it is worth checking rather than assuming. If a return is needed, we prepare it, review your allowable expenses and submit it on time, and we will also let you know if your circumstances change in a way that affects your filing obligations.
Commonly considered costs include professional registration and indemnity cover, specialist equipment and uniforms, professional subscriptions, travel between work locations, and a proportion of costs where something is used for both business and personal purposes. Not every expense is allowable, and the rules around what can be claimed are specific and depend on individual circumstances. We review your expenditure as part of preparing your accounts or tax return and explain which items are likely to qualify, so you claim what you are entitled to without overstating anything.
Yes. We keep bookkeeping running throughout the year rather than leaving everything to the deadline, which makes the accounts more accurate and the whole process far less stressful. For pharmacies with employees, we run payroll for dispensers, counter staff and managers, handling starters, leavers, pension duties and the reporting that goes with them. If you already use accounting software, we can work with it; if your records are mainly paper receipts and spreadsheets, we can help you move to something more practical.
VAT in pharmacy can be more involved than in many small businesses, because the mix of zero-rated, standard-rated and exempt supplies affects how you account for it and what you can reclaim. Whether you need to register, and how VAT should be handled once you are registered, depends on your turnover and the specific nature of your sales and services. We can review your position, advise on the treatment that applies to your circumstances and manage the ongoing VAT returns where they are required.
It usually is. Once you decide to move, we contact your existing accountant on your behalf to request the information we need, and we handle the handover so you are not caught in the middle. We will check your current position, confirm what records are outstanding and set up your bookkeeping and filing calendar from that point. Timing matters if a return or accounts deadline is approaching, so it is worth speaking to us early rather than waiting until the last minute. After that, you simply get on with your work while we keep things on track.
