Specialist accountants for pharmacies
At RA Accountants, we have been working with pharmacy professionals for many years and have extensive experience in helping self-employed locum pharmacists as well as growing community and independent pharmacists with their long-term account and tax needs.
Support with acquiring your first pharmacy
Many ambitious pharmacists in the early stages of their careers plan to buy their own pharmacy and to acquire additional sites as the opportunities arise. We can help you assess the viability of any potential acquisitions and to introduce you to other professional advisors as required.
For more information, take a look at our guide on how to open a pharmacy.
Tax efficient from the outset
The structure of your business in the context of your personal circumstances and long-term goals can be key to tax efficiency. Talk to our tax experts before setting up, to discuss possible options and the best route forward. Naturally, it will be important to revisit your tax plan over the years as you acquire additional sites and perhaps expand your property portfolio.
Your pharmacy business plan
Having a stretching yet achievable robust business strategy is vital to the successful running of a pharmacy business. Our pharmacy specialists at RA Accountants can help you develop a sound business plan and monitor your performance against these measurable goals.
Accountancy services for running your pharmacy
Alongside our accountancy advice, we can also support you with routine core accountancy services. This includes:
- Personal tax advice
- Preparation of your self-assessment tax return
- Advice on self-employment
- Advice on allowable expenses and capital allowances
- Advice on National Insurance
- Advice on accounting software
- Bookkeeping
- Accounts preparation
- Management accounts
- Cash flow, practice income and other factors affecting your pharmacy business
- Payroll
- A comprehensive review of practice accounts and future tax planning issues for pharmacists considering a partnership
- How best to structure your property portfolio
- Advice on planning your long-term business exit strategy and succession planning
- Inheritance Tax planning
- Succession planning
Formulating a sensible exit plan is important. Talk to the RA Accountants’ team about succession planning, trusts and inheritance tax.
Complimentary initial online consultation
Get in touch to arrange an initial online consultation with Riz Akhtar, Partner at RA Accountants to see how we can help.
Come and see us at The 2023 Pharmacy Show
If you are going to this year’s Pharmacy Show at the NEC in October, don’t forget to drop by our stand. We would be really pleased to see you there.
What our clients have to say about us
- Pharmacy
Addy Mohammed
Simple Online Healthcare
“One aspect that sets RA Accountants apart is their commitment to personalised service. They take the time to understand the unique dynamics of my businesses and are always available to provide guidance and advice whenever I need it. ”I have had the pleasure of working with RA Accountants since 2012 and I can confidently say that they have been instrumental in the success and growth of my group of companies. As the owner of multiple community pharmacies across the UK, a pharma wholesale business, and a leading online pharmacy, I have relied on RA's expertise to navigate the complexities of the tax and accountancy landscape.
RA Accountants have consistently provided invaluable guidance and support in shaping my businesses. Their depth of knowledge and understanding of the pharmaceutical industry and related sectors have been crucial in helping me make informed decisions. From the outset, they have shown a remarkable ability to devise and execute effective tax planning strategies tailored to my specific needs. Their expertise in complex tax matters has not only saved my businesses substantial amounts of money but also ensured compliance with all relevant regulations.
In addition to their exceptional tax planning services, RA Accountants have also been an invaluable resource for general accountancy matters. Their team of professionals is meticulous and thorough in their approach, ensuring that my financial records are accurate and up to date. They have played a significant role in keeping my businesses financially healthy, providing insightful analysis and reporting that has allowed me to make informed decisions.
One aspect that sets RA Accountants apart is their commitment to personalised service. They take the time to understand the unique dynamics of my businesses and are always available to provide guidance and advice whenever I need it. Whether it's a simple query or a complex financial decision, I have complete confidence in consulting with RA before moving forward.
Over the years, RA Accountants have proven themselves to be more than just an accountancy firm; they have become trusted advisors and partners in my business ventures. Their professionalism, expertise, and dedication have consistently exceeded my expectations. I wholeheartedly recommend RA Accountants to any business owner seeking top-notch tax and accountancy services. They will undoubtedly add tremendous value to your operations and help you achieve your financial goals.
- Pharmacy
Husam Jawad
“We are very happy to recommend RA Accountants. Their expert knowledge in healthcare accounting has been crucial for our company’s success. Thanks to their help, we have grown into a multi-million-pound business.”RA has guided us through a complex restructuring process with great care, making sure everything was done correctly. They understand the healthcare sector very well and has helped us improve our finances and operations.
RA's deep understanding of taxation has been especially valuable. They have provided us with insightful tax planning strategies, ensuring we remain compliant with all regulations while optimising our tax liabilities. Her expertise has resulted in significant cost savings and increased our financial efficiency.
Their advice also helped us diversify, which opened up new opportunities for growth. Our accountant, Anjana, has been more than just an accountant to us; she has been a true partner, always providing practical solutions and smart strategies.
We are very grateful for Anjana’s dedication and expertise. She has made a big difference to our business, and we highly recommend her to any company looking for a reliable and skilled accountant with exceptional knowledge in healthcare.
To read more testimonials about Pharmacy.
