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 finance is rarely simple. Income can arrive from several different sources, costs move around constantly, and the accounting treatment of certain items depends on your individual circumstances. These are the areas we see pharmacists in Rushden wrestling with most often.
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.
We handle the accounting and tax work that sits behind a pharmacist's income, whether that comes from employed work, locum shifts, self-employment, a partnership or a pharmacy business. In practice that means preparing Self Assessment returns, keeping bookkeeping up to date, preparing annual accounts, dealing with Corporation Tax, running payroll for pharmacy staff, providing management accounts so you can see how the business is performing, offering tax planning and supporting VAT matters where your turnover means it applies. The aim is to keep your records accurate, your deadlines met and your tax position clear, with someone available to answer questions as they come up rather than once a year.
It suits a wide range of people working in pharmacy, including community pharmacists, locum pharmacists, self-employed pharmacists, pharmacy owners, independent pharmacy businesses, pharmacy partnerships and pharmacists who combine employed work with a business interest. You do not need to be running a large pharmacy for this to be worthwhile — some clients simply want their Self Assessment and expense records handled properly, while others need full accounting, payroll and management reporting. If your circumstances are unusual, we will tell you honestly whether we are the right fit rather than taking on work we cannot support well.
Where you have both employed and self-employed or locum income, all of it generally needs to be reported, and tax is usually collected through a combination of PAYE on your employment and any balancing payment due through Self Assessment. Allowable expenses connected with the self-employed or locum work can sometimes be claimed, but what qualifies depends on your individual circumstances and how the income is structured, so it is worth reviewing before the return is submitted. We look at your income sources together, work out what needs to be declared and make sure the return is consistent and filed on time.
Yes. Registration fees, professional indemnity cover, specialist equipment, certain training and other costs connected with your professional activity are commonly reviewed as part of preparing your accounts or return. Whether a particular expense is allowable depends on what it was for, whether it was incurred wholly and exclusively for your work, and whether it is capital or revenue in nature — so treatment varies from person to person. We go through your outgoings with you, identify what can realistically be claimed and keep the supporting records in a sensible order.
We can take on as much or as little of the record keeping as you need. For many pharmacies, that means maintaining bookkeeping through the year so income from dispensing, private prescriptions and retail sales is reconciled alongside supplier invoices, stock purchases and other business costs. On the payroll side, we process wages for your employees and handle the associated reporting obligations, including pension contributions and payslips. Keeping this running monthly rather than in an annual rush makes the accounts more reliable and makes it much easier to spot cash flow pressure early.
VAT registration depends on your taxable turnover and the nature of what you supply, so it is not automatic for every pharmacist or pharmacy business. Some pharmacy income and certain services are treated differently for VAT purposes, and the point at which registration becomes necessary depends on your individual circumstances and how your business is set up. If VAT does apply, we can help with registration, record keeping, returns and making sure the correct treatment is applied consistently. If you are approaching the threshold, we will flag it early so you can plan rather than react.
There is no single answer that suits every pharmacist. Sole trader status is simpler and often perfectly adequate for locum or self-employed work, while a partnership can suit two or more pharmacists running a business together, and a limited company can sometimes offer different tax and flexibility considerations as profits grow. The right choice depends on your level of profit, how you want to take money out of the business, your plans for expansion and your appetite for administration. We talk through how each structure is likely to affect you and review it as your circumstances change.
Switching is usually far less disruptive than people expect. We ask for some basic details about your current position, contact your existing accountant where needed to obtain the records and information we require, and then take over the ongoing work at a natural point in the year. You get in touch to start the conversation, we discuss your accounting and tax requirements and what needs to happen next, and then we put the support in place and keep it running. If you are unsure whether you need to move at all, we are happy to talk it through first.
