We understand how to help pharmacies increase their profits even amidst NHS budget cuts and increasing competition and our solutions and services are tailored to your specific business.
Our advice will ensure that you reduce financial inefficiency and increase profitability, meaning you will be able to focus on providing an exceptional service to patients.
Our support for pharmacies includes:
- Setting up a pharmacy
- Business plans, including financial forecasts
- Accounting and bookkeeping
- Management accounts
- Payroll and remuneration advice
- Tax advisory and compliance services
- Incorporation advice
- Buying or selling a pharmacy
- Raising finance
Locum pharmacists have more flexible working conditions and can enjoy more control over the number of hours they work.
However, whilst they often receive a high hourly wage, growing competition and a rise in the number of qualified pharmacists in Britain means that sourcing work can be more difficult than previously.
Managing your expenses and multiple income streams is also an added complexity. We have the sector-specific knowledge needed to ensure your financial affairs as a single limited company are fully tax-efficient.
Our support for locum pharmacists includes:
- Preparing and submitting all financial and tax returns
- Review of your national insurance (NI) position
- Pension planning
- Single limited company advice
The clock is ticking…..
Did you know the way VAT is reported to HM Revenue & Customs (HMRC) is changing?
MTD for VAT
If your business is registered for VAT, you MUST sign up for Making Tax Digital (MTD) regardless of your turnover by 1 April 2022. Find out more here.
MTD for Income Tax
From 1 April 2023, most businesses, including sole traders with a turnover of more than £10,000 per year MUST file their business income tax returns with HMRC using the same MTD digital reporting software. Find out more here.