As the financial year comes to a close, it’s crucial to take stock of your pharmacy’s financial health and ensure that everything is in order for the upcoming year. Year-end preparations can seem daunting, but with a clear checklist, you can streamline the process and ensure that your pharmacy enters the new financial year on solid footing.

As a pharmacy owner, you rely on your accountant to manage the numbers, ensure tax compliance, and keep the books in order. But in today’s competitive and complex market, your accountant should be doing much more than that. While basic accounting services are essential, there are key areas where your accountant can provide strategic value that you may be missing out on.

As a pharmacy owner, a significant portion of your revenue likely comes from NHS-related income streams. Whether it's through dispensing prescriptions, delivering services like flu vaccinations, or other NHS-funded services, maximizing your NHS claims can make a considerable difference to your pharmacy’s cash flow.

Whether you’re looking to buy a pharmacy or sell your existing one, the process is often complex and filled with financial hurdles that require careful planning and attention.

At Pharmatax, we specialize in helping pharmacy owners understand their finances and make data-driven decisions to improve profitability.