Pharmacy VAT & Payroll Advice
VAT and payroll are two of the most common areas where pharmacy businesses make expensive mistakes.
VAT support includes:
- VAT registration
- Partial exemption
- Retail VAT
- VAT returns
- HMRC VAT enquiries
Payroll support includes:
- Weekly and monthly payroll
- Directors' payroll
- Locum payments
- Auto-enrolment pensions
Call to Action: Need help with pharmacy VAT or payroll? Contact us today.
VAT Repayment Support for Pharmacies
Pharmacy businesses are often in VAT repayment positions, so early preparation of VAT returns can be very important for cash flow.
We work proactively with pharmacy clients to prepare VAT returns as soon as possible after the VAT quarter end. Where accounting records are up to date and supporting information is available, we aim to submit VAT returns at the earliest opportunity so that repayments are received promptly.
This can help pharmacy owners manage:
- Supplier payments
- Medication purchases
- Payroll costs
- Working capital
- Monthly cash flow pressure
Receiving a VAT refund earlier in the month can make a significant difference to the day-to-day financial management of a pharmacy.
Pharmacy VAT Returns Prepared Promptly
Our pharmacy VAT service includes more than simply submitting the return. We review the VAT position carefully, check the VAT coding, identify repayment positions and aim to ensure the return is submitted promptly and accurately.
Our service includes:
- VAT return preparation
- VAT coding reviews
- Partial exemption considerations
- Retail VAT scheme support where relevant
- Review of repayment claims
- HMRC VAT query support
- Early submission to assist with cash flow
We understand that VAT refunds are an important part of pharmacy cash flow planning. That is why we make early VAT return preparation a priority for pharmacy clients.