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 a simple pattern. Income can arrive from several directions at once, costs are constant, and the accounting treatment of certain items depends on your individual circumstances. Here are the issues we most often help pharmacists and pharmacy businesses in Royston work through.
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 of the service covers the compliance work most pharmacists and pharmacy businesses need: annual accounts, Self Assessment tax returns, Corporation Tax returns for limited companies, bookkeeping, payroll and ongoing tax guidance. Alongside that, we can provide management accounts, VAT support where registration applies to your circumstances, and tax planning around business structure and profit extraction. Exactly which elements you need depends on whether you work as a locum, a self-employed pharmacist, a partner or a company director, and we will talk through the right combination with you before anything is agreed.
It is designed for pharmacists and pharmacy businesses of all shapes and sizes. That includes locum pharmacists who need their income and expenses tracked properly, self-employed pharmacists building a business, community pharmacists, independent pharmacy owners, pharmacy partnerships that need profits split and documented correctly, and pharmacy-related businesses such as online dispensaries or consultancy operations. If your work sits within pharmacy and you need accounting and tax support that understands the sector, this is aimed at you.
We keep the different income streams separate in your records so it is clear how each contributes to your overall position. NHS payments, private prescription income and over-the-counter sales can behave quite differently through the year, and mixing them together makes it hard to see what is actually happening in the business. How each element is reported and what reliefs or treatments may apply depends on your individual circumstances, so we look at your specific arrangements rather than applying a general rule.
In most cases, locum work is treated as self-employment, which means a Self Assessment tax return is normally required and tax is paid through that route rather than through PAYE alone. If you also hold an employed position, both sets of income need to be reported together. Whether a return is required, and how payments on account will affect your cash flow, depends on your individual circumstances, so it is worth reviewing your position rather than assuming.
Commonly claimed items include professional body subscriptions, registration and indemnity cover, specialist training that maintains or updates your existing skills, and equipment used in your work. The key point is that an expense normally needs to be incurred wholly and exclusively for the purposes of your work, and the treatment of any particular cost depends on your individual circumstances. We go through your expenditure with you and identify what may be allowable, keeping the supporting records in order so the position is easy to evidence.
Yes. We can take on bookkeeping so your income and costs are recorded consistently through the year, which means year-end accounts are built on accurate records rather than a last-minute reconstruction. On the payroll side, we handle the routine running of wages for dispensary and counter staff, including the associated reporting and deadlines, and we can factor locum payment arrangements into the picture. This is often the area where pharmacy owners save the most time, because it removes a recurring admin burden from their week.
VAT registration depends on your turnover and the nature of what you supply, and pharmacy income is not treated uniformly, since some products and services carry different VAT treatment. Whether registration is required, and how it would affect your pricing and margins, depends entirely on your individual circumstances. We can review your position, explain the practical implications, and support you with VAT returns and record keeping if registration does apply to your business.
Switching is usually straightforward. You get in touch, we talk through your current arrangements and what you need, and if you are happy to proceed we handle the handover with your existing accountant, including obtaining the information required to take over the work. Once everything is in place, we agree what will be done, when deadlines fall due, and how we will keep in touch. There is no obligation to commit until you have had that initial conversation and understand exactly what is being offered.
