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
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.
