Accountants For Pharmacists

We have a range of different services for pharmacists. Some other healthcare professionals that use our services include:

• Salaried doctors, GPs and GP practices
• Private healthcare workers
• Dentists
• Hospitals

Pharmacies have their own set of financial challenges. We can assist with the following and more:

• Inventory management: Efficient tracking and cost control for medicines and supplies.
• Operational costs: Managing expenses such as rent, utilities and IT systems.
• Staff salaries: Payroll management for pharmacy employees and locums.
• Pharmacy tax: Helping you navigate tax requirements specific to the pharmacy sector, including pharmacist tax deductions.
• Insurance: Helping you navigate insurance coverage, including professional indemnity insurance.

Yes, pharmacists in the UK must pay taxes, like all other professionals. Pharmacists are legally required to pay income tax on their earnings and National Insurance contributions. Pharmacists may also be subject to other taxes (like VAT if self-employed) depending on the circumstances.

Here’s what you can expect when you appoint Xeinadin as your pharmacy accountant.

1. Initial consultation: We’ll meet to discuss your pharmacy’s goals and requirements.
2. Service recommendation: After assessing your business, we’ll provide tailored service suggestions and a transparent quote. You’re under no obligation to go further than that.
3. Setup: Once you’re happy with what we’ve proposed, we’ll request access to your financial records and integrate our pharmacy accounting system.
4. Kick-off meeting: We’ll introduce you to your dedicated team. Now is your opportunity to ask any questions before we begin.
5. Ongoing support: We’ll manage your finances while adapting our services as your needs evolve as a business.