What accounting records must a pharmaceutical business keep?

Pharma businesses must keep records of sales, purchases, payroll, VAT, and stock. Limited companies must file with Companies House and HMRC, and records support R&D Tax Credit claims.

Is VAT charged on pharmaceutical products in the UK?

Prescription medicines are zero-rated for VAT, while OTC medicines and supplements are standard-rated at 20%. Mixed supplies require careful VAT treatment per product line.

R&D Tax Credits

R&D Tax Credits enable businesses that incur costs in developing products, processes, software or services to receive a corporation tax deduction or cash payment from HMRC.

Management Accounts

With nearly five decades of experience across several industries, we can analyse your business finances as specialists in this field of accounting.

Forecasting & Budgeting

One of our chartered accountants will handle your cash flow forecasts and budgets helping you achieve real-world financial insights.

Bookkeeping

Accounting and bookkeeping are important, but they don’t have to be a hassle.

VAT

Taxes like value added tax (VAT) are complex and demanding on businesses – so complicated most businesses accidentally overpay or underpay VAT. Simply put, it’s a bit of a hassle.

Corporation Tax

Is corporate tax planning beneficial to my company? A well-designed corporate tax plan can result in significant improvements to your bottom line.

Company Secretarial

As a business owner, the last thing you need is to use up valuable resources ensuring you’re compliant with the Companies Act.

Company Formation

Registering a company is exciting, but its also a major part in laying the first foundations of your company and there’s more to consider than just buying a cheap ready made company on the internet!

Accounts

We’ll handle your accounts, hitting all your statutory deadlines and giving you the clarity you need to maintain your business.

Locums

We have been assisting GP’s, Consultant Doctors, Nurses and Technicians working throughout the NHS and private medical organizations for over 4 decades, so know your accounts and tax affairs in capable hands while we make sure you remain compliant taking home as much of your income as possible.