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.

 

 

Reduce stress and its effects; Fraxel laser treatments and pharmacy accounting

Using a cosmetic or medical method to reduce the effects of time and stress that has left their mark on a person's face is commonly known as facial rejuvenation. There are numerous ways that expert cosmetic surgeons go about rejuvenating a person's face of which the most popular are Botox and Collagen injections, permanent makeup (the use of tattoos to produce designs that imitate makeup), facial toning, cosmetic acupuncture and DMAE (Dimethylethanolamine) creams. One of the latest additions to the numerous techniques used in facial rejuvenation, and quickly becoming the most popular, is laser surgery. Not only is it less painful than injections or acupuncture which of course use needles, but it's also much more effective as well. Despite the connotations associated with lasers (perhaps we have all watched too much sci-fi), such treatment is actually quite painless and is much softer on the skin than other methods used to attain a younger and more youthful appearance. Running a pharmacy is quite a stressful business as not only are pharmacies suppliers of pharmaceuticals and medicines but they also stock many products that are used in facial rejuvenation methods such as creams and lotions.

Making sense of all those different products is surely a good way to find your head swimming with a whole bunch of names that wouldn't make any sense whatsoever to most. Finding the time to not only make sure that the store is well stocked and adheres to the strict regulations here in the UK but also to deal with customers does not leave much time to one of the most essential aspects of running a business that of accounting. Fraxel laser treatments are a new method of skin rejuvenation and one that is quickly increasing in popularity because not only is it less painful, but it's also more effective as well. Common ailments that this revolutionary method is used to correct include scars caused by acne, surgery and trauma, effects caused by too much exposure to the sun such as freckles or melasma and the effects of getting older like wrinkles. For those that would like to regain their youthful looks this method is probably exactly what they need in order to do so.

Not having enough time to sort out the financial side of things and can result in a pharmacy not being as successful as it should be despite the amount of hard work put into it. There is however a solution that can not only reduce the amount of stress that is inherent to such a business but can also see the proprietor having much more free time in order to do the enjoyable things in life that do not have anything to do with the running of a business. By hiring an outside firm that runs a low cost, paperless office at a set fee that is tailored to their specific needs, the pharmacist will have more time to enjoy life and not feel the need to be reaching for the headache medication.