Pharmacy Accountancy


News & Articles


The Budget – 2012
George Osborne delivered his third budget on 21st March 2012, many of his proposals will not take effect until 2013/14.
A Free Pension?
In reality, no one is going to get a free pension, but some individuals can get very close to it...
A Festive Tax Break
As Christmas approaches thoughts turns to office parties. So what view does the tax man take when an employer arranges a Christmas party for their staff?
Self Assessment Penalties
The self-assessment system was introduced in 1996 and at present HM Revenue & Customs require about 10 million individuals to file returns each year.
Should I Incorporate?
This is a question we are frequently asked by locums. The answer is “it all depends”.
The 1000% Tax Trap - And How To Avoid It
Imagine getting a pay rise of £1,000 per annum and then finding your tax liability increasing by £1,055, that’s over 100% tax. Now imagine your pay rise is just £100 but your extra tax liability is still £1,055. That’s a tax rate of over 1000%!
Pharmacy Locum Tax Planning
At what point should a sole trader pharmacy locum consider operating via a limited company? The answer to this depends on a number of factors, which are specific to the individual.
2010/2011 Tax Year End Planning
February is a good time for individuals to have a think if there are any simple steps they can take to minimise their tax liabilities.
New Pension Regime - Government Announcement 9th December 2010
We detailed the key points arising from the Government's announcement on 9th December 2010 regarding the future direction of pension provision in the UK.

 

 

Financial Support and Equity ISAs are Essential Investments

Individuals and businesses all need financial support from time to time, and whether you are a pharmaceutical company looking for ways to grow your business or an individual searching for ways to save their money, there are companies out there that can be tracked down online that can help you with your endeavours. It seems that whatever we buy these days, tax must also be paid, which is why the government's allowance of around ten thousand pounds that can be put into an ISA must be taken advantage of. A lump sum deposit or a monthly investment can be made into an ISA, which affords people a degree of flexibility, and if you would like to invest your savings into investment funds then Equity ISAs give people the opportunity to do just that.

All businesses will at some point in time need to employ the services of accountants and IFA's, and there are firms that specialise in accounting, wealth management and tax for locum pharmacists and community pharmacies, so if this is the industry you are working in, make sure to take advantage of their specialist skills. It is important to have your accounting handled professionally so that you can concentrate on other areas of your business, so make sure to track down a firm that uses the latest technology so that they can offer an efficient service. And if you find that you have some extra money to save each month, make sure to put it in an ISA.