What to know before you decide
Practices & businesses
Specialist accountants for Opening a Pharmacy · Fixed fees · Free first call
Opening a pharmacy: NHS market entry, registration and tax
A new pharmacy needs NHS approval to dispense, GPhC registration for the premises and a forecast that covers stock and wages before NHS payments arrive.
How do I open a new pharmacy in England?
Apply to join the NHS pharmaceutical list under the market entry regulations, which test whether the area needs a new pharmacy, and register the premises with the General Pharmaceutical Council. Plan finance for fit-out, stock and wages, because NHS payments arrive in arrears.
Fixed fees, specialist healthcare accountants, and every HMRC and NHS Pensions deadline handled.
- Fixed monthly fee, no surprises
- Specialist in NHS pension and healthcare tax
- Onboarding within 48 hours
- ICAEW & ACCA regulated
- 5,000+ clients served by ACCOTAX
- Specialist healthcare accountants
Reviewed by Waqas Sagar ACA FCCA FMAAT, Founder of ACCOTAX, 18+ years' experience · Last reviewed: 8 October 2026 · Updated for the 2026/27 tax year
Medical.Accountants by ACCOTAX, ICAEW/ACCA-regulated chartered accountants, London, serving clients across the UK. Over 5,000 clients served.
Key takeaways
- We set up the company, payroll and bookkeeping; we do not write your CQC or regulator application.
- Fixed fee for start-up work, agreed in writing before work starts.
- One named accountant from your first forecast to your first year-end.
Opening a pharmacy step by step
- Check local need and the market entry route
- Register the company and plan finance
- Apply to the NHS pharmaceutical list
- Register the premises with the GPhC
- Set up payroll, stock and bookkeeping
Which accountancy support fits your income?
Start with how you are paid. Different income sources can need different accounts, returns and expense checks.
| How you work | What we check | Support to explore |
|---|---|---|
| Employed or umbrella (PAYE) | Tax codes, eligible employment expenses and whether a tax return is needed. | Healthcare tax refund support |
| Genuinely self-employed | Business income and expenses, Self Assessment and MTD eligibility. | Healthcare Self Assessment service |
| Your own limited company | Company accounts, Corporation Tax, director income and off-payroll status where relevant. | Healthcare limited company accounts |
| Partnership | Practice accounts, allocated profit and each partner’s personal tax position. | Healthcare partnership accounts |
Sound familiar?
Problems we fix for pharmacists and pharmacies
- "I drive between branches and don't know what mileage I can claim."
- "Should I work as a sole trader or a limited company?"
- "NHS contract and service income is hard to track."
- "Stock and margins don't add up."
- "VAT partial exemption confuses me."
- "I want to buy or sell a pharmacy."
What it's costing you
Leaving it unfixed is rarely free
- Overpaid tax
- Unclaimed expenses and wrong tax codes mean paying more than you owe, year after year.
- HMRC penalties and interest
- Late returns attract automatic penalties, plus interest on tax paid late.
- Lost evenings
- Hours spent on forms, invoices and spreadsheets after a long shift.
General examples, your position depends on your own figures.
How we solve it
What we actually do for you
Locum package
Mileage, expenses and structure handled for locum pharmacists.
Pharmacy accounts and VAT
Accounts and VAT returns that reflect dispensing and services correctly.
Valuation and deal support
Help with buying or selling, from valuation to completion.
How we help
01
Company set-up and structure
Sole trader or limited company, shareholders, bank account and registration for VAT, PAYE and Corporation Tax, done before your first client.
02
Business plan figures
Start-up costs, cash-flow forecast and break-even point prepared for your lender, landlord or regulator application.
03
Payroll and year one accounts
Payroll with pension auto-enrolment, bookkeeping set up on Xero or QuickBooks, and your first accounts and tax returns at a fixed fee.
Your questions answered
Is buying an existing pharmacy easier than opening one?
Often, because new NHS contracts are limited by the market entry rules. Buying means a change of ownership application instead, with existing NHS income to review.
Help with this question: Practice Purchase, Sale & Valuation for Doctors & Healthcare Professionals
Want us to check this for you? Get a free review →How is VAT handled in a pharmacy?
NHS dispensing is zero-rated, while many retail sales are standard-rated, so pharmacies often reclaim VAT. Partial exemption can apply for some services, which we check when setting up.
Check the official guidance · www.gov.ukHelp with this question: VAT Registration & Returns for Doctors & Healthcare Professionals
Want us to check this for you? Get a free review →Quick quote
See what you could save, get a fixed fee in one working day
Three fields. No obligation. A specialist replies, not a sales team.
Packages for your working life
Accountancy packages for pharmacists
Self-employed income, a limited company, PAYE or a mixture: start with the support that matches how you actually work. We check your status and agree the scope and fee before starting.
Self-employed accountants for pharmacists packages
For genuine sole-trader income. We prepare your business accounts and Self Assessment, review allowable expenses and explain payments on account.
- Sole-trader accounts and personal tax return
- Allowable business expenses reviewed
- Tax reserve and payment deadline guidance
- MTD support scoped separately where required
Fixed fee quoted after a review
Discuss this packageMedical accountants for pharmacists: limited company packages
For clinicians working through their own company. Choose Essential/Compliance, Core/Complete or Growth according to your accounts, bookkeeping and payroll needs.
- Statutory accounts and Corporation Tax return
- One director return for salary and dividends from the same company
- Confirmation statement support; filing fee extra
- Bookkeeping, VAT and payroll according to your chosen plan
Company packages from £45.83 + VAT / month
Compare company packagesPersonal tax return packages for pharmacists
For employed clinicians, partners and people with mixed income who need a return. We check whether Self Assessment is required and reconcile the relevant income, expenses and pension tax information.
- Self Assessment requirement checked
- PAYE and other income reconciled
- Eligible employment expenses reviewed
- Pension tax work agreed separately where needed
Fixed fee quoted after a review
Discuss this packageEmployment status is determined by the facts, not the package you choose. PAYE, umbrella and partnership arrangements may also apply. A limited company does not override IR35 or off-payroll rules, and not every employed clinician needs a tax return.
Overpaid tax?
Tax refund support for pharmacists
We review tax codes, eligible professional expenses and overpaid tax, then prepare a claim where you qualify. A refund is not guaranteed; HMRC decides the claim.
£249 + VAT
For refunds up to £5,000, our fee is £249 plus VAT. For refunds above £5,000, add 5% of only the amount above £5,000 to the £249 fee. VAT applies to the total professional fee.
Example: a £6,000 refund means £249 + £50 = £299 plus VAT.
Professional fee, excluding VAT
£249
This illustrates the fee only, not whether you qualify or how much HMRC will refund. We agree the claim scope and payment terms before work starts.
What's included
Limited company packages, compare what's included
Essential/Compliance
For locums, salaried GPs and dentists with a limited company
from £45.83 + VAT /month
- FRS 105 or FRS 102 1A statutory accounts
- Corporation tax return (CT600) and tax computation
- Confirmation statement preparation and filing support
- One director Self Assessment return
- Deadline reminders ahead of every filing date
Core/Complete
For private practice, consultants and associate dentists
from £62.50 + VAT /month
- Everything in Essential/Compliance
- Monthly bookkeeping and bank reconciliation
- Quarterly Making Tax Digital VAT returns
- Director payroll with RTI filing and pension submissions
- Quarterly review call on numbers and tax position
Growth
For clinics, dental practices and growing medical teams
from £75.00 + VAT /month
- Everything in Core/Complete
- Payroll for up to five employees
Prices exclude VAT. Making Tax Digital quarterly updates available as an add-on. Compare fees
Why clinicians trust us
Chartered accountants who know the NHS
- ACCOTAX has served over 5,000 clients.
- Regulated chartered accountants (ICAEW and ACCA).
- Founded by Waqas Sagar ACA FCCA FMAAT, with 18+ years' experience.
Reviewed by Waqas Sagar ACA FCCA FMAAT
Chartered accountant and founder of ACCOTAX. Last reviewed October 2026.
Get my fixed-fee quoteHow it works
- 01
Free call
A 15-minute chat about your income, structure and deadlines.
- 02
Onboarding in 48 hours
We set up your records, software and HMRC agent access.
- 03
We handle the rest
HMRC, NHS Pensions and every deadline, with reminders before each one.
Free resource
Get the locum pharmacist checklist free
Tell us where to send it and we'll email it to you.
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Book a free 15-min tax reviewRelated healthcare expertise
General information for the 2026/27 tax year, prepared from the official guidance linked below. It is not personalised tax or regulated financial advice. Rules and circumstances can change; confirm your position before acting.
Official sources referred to on this page: NHS England: Pharmacy market entry; GPhC: Registering a pharmacy; NHS: Find a pharmacy; Google Maps: pharmacies near me.