Tax & Accounting Services for Locum Pharmacist

For Specialist Accounting advice for Pharmacists, We Prescribe Sial Accountants

As a newly qualified pharmacist, or even an experienced locum, Sial Healthcare fully understands your specific accounting needs. Our specialist accountancy and taxation services will be tailored to your individual requirements to make sure you achieve your aims with the minimum of cost and stress!

Preparing your self-assessment tax returns, accounts and record keeping can be daunting for anyone, let alone anyone working in the complex pharmacy sector, so we provide locums with the best guidance and support to fulfil the regulatory requirements.

And then, if you decide to start your own practice, we are here to guide you through the process, and continue to support you throughout the journey, to create a successful business.

Why Choose Sial Accountants?

Final Accounts, Benchmark, and Management Accounts
Tax Planning and Tax Returns Services
VAT Apportionment FCA & SDC and de-minimis
Bookkeeping, Xero, QuickBook, Sage and others
Payroll and Pension Services
Advise on the best way to finance the growth
Advise on equipment purchase, financing arrangements
Advise on buying a practice, due-diligence & valuations
Recommending the best legal structure for your practice

“I’ve been really impressed with Sial’s knowledge of the pharma industry, and it has made my life so much easier, having someone around who I don’t need to explain everything to!

Geoffrey J, Pharmacy Locum, Peterborough

Final Accounts & Tax Returns

Final accounts, tax returns, and financial services for optical practices, including management accounts.

Bookkeeping, Payroll, and VAT

On-site or off-site bookkeeping services, handle payroll including payslips and RTI submissions, and prepare and submit VAT returns.

Incorporation and Secretarial Services

We recommend the best legal structure for your practice, handle practice incorporation, and secretarial services.

Other Services

Advice on financing growth for independent practices, assist with asset purchases and financing arrangements, and provide guidance on buying a practice, including valuations and financing support.

What Makes Us Different?

Aside from our detailed understanding of the healthcare sector, we’re geared to helping you succeed. We’ll encourage you to set targets, track your performance and continually improve.

All our clients benefit from personalised, tailored solutions, because everyone’s circumstances are different. Only once we know yours can we formulate the most cost-efficient approach, and create a package that suits you. And help you to transition smoothly from your existing advisor.

Answers from Our Pharmacy Specialist Accountants

Frequently Asked Questions

Choosing the right accountant for your locum pharmacy is crucial. Locum pharmacists often face challenges such as irregular income, navigating complex tax deductions, managing cash flow fluctuations, and deciding on the best business structure. They must also ensure compliance with VAT regulations and handle self-assessment tax returns, which can be overwhelming without specialised accounting support tailored to their needs.

What business structure is best for a locum pharmacist?

The right structure depends on your earnings, long-term goals, and personal circumstances. Operating as a limited company can offer tax advantages, but it also comes with added responsibilities. Our advisors help you weigh the pros and cons, ensuring you select the most tax-efficient structure for your locum work.

What expenses can a locum pharmacist claim as tax-deductible?

Locum pharmacists can typically claim deductions on expenses such as professional indemnity insurance, travel costs between work locations, professional memberships, and necessary equipment. We ensure you claim all eligible deductions, maximizing your tax savings while staying compliant with HMRC rules.

How can SIAL Accountants assist with managing irregular income as a locum?

Locum work often means fluctuating income, which can make financial planning tricky. We help smooth out your cash flow through budgeting, tax planning, and by setting up efficient invoicing processes, so you’re financially prepared during quieter periods.

Do I need to register for VAT as a locum pharmacist?

Locum pharmacists are usually below the VAT threshold, but it can depend on your income and specific services. Our team can assess your situation, advise on whether VAT registration is beneficial or necessary, and help manage compliance if needed.

How do I plan for tax payments on locum income?

Since taxes aren’t deducted at source for locums, planning is essential. We provide tax projections and guide you in setting aside the correct amounts, so you’re fully prepared for annual and self-assessment tax deadlines without unexpected surprises.