Total Books Accountants are pleased to announce the launch of their new company RX Virtual Finance Ltd. This new company will provide accounting, tax and consultancy services to Community Pharmacy owners across the UK.
Led by practice principal Buhir Rafiq, a MAAT-qualified accountant with over 30 years of experience, including 15 years dedicated to serving pharmacy clients. RX Virtual Finance Ltd will offer various services designed specifically for the pharmacies. Mr Rafiq brings his ethical community focus to the table.
About Total Books Accountants:
Established over 30 years ago, Total Books Accountants is a Cardiff & Bristol-based Digital firm that offers accounting and tax services to businesses and individuals. RX Virtual Finance Ltd is a new addition to their services.
Services offered by RX Virtual Finance Ltd
- Virtual Bookkeeping
- Pharmacy Accounting
- Management Accounts
- Ltd Company Accounts
- Payroll
- Tax & VAT Consultancy
- Part-Time Virtual Finance Office Services (CFO Facility)
Pharmacy owners know how hard it is to find accountants who understand their industry. RX Virtual Finance Ltd has brought together a team of expert pharmacy accountants. All team members are UK-qualified professionals from various accountancy bodies, so clients get knowledgeable and relevant advice and stay compliant with the relevant regulations.
RX Virtual Finance also offers bespoke accounts and finance services to pharmacies so they can concentrate on their business. In addition to pharmacy accounting services, RX Virtual Finance Ltd offers tax consultancy to pharmacy owners and directors.
Our tax experts will cover self-assessment tax returns and tax planning for high-net-worth individuals, including Inheritance tax & Capital Gains tax planning. Our company also offers consultancy services to locum pharmacists with IR35 reviews and tax guidance.
Why do pharmacy owners need pharmacy accountants in the UK?
The pharmacy sector operates in a complex regulatory environment with industry-specific financial challenges that differ from those of other sectors. For example, pharmacies have a complex VAT reclaim structure and cash flow challenges due to the fluctuating monthly NHS Script payment and varied pricing on additional NHS service products.
This sector requires industry-specific financial practices, tax regulations, and compliance requirements to stay compliant with the NHS, HMRC, and Companies House. This ensures that you reclaim the right amount of VAT and do not pay more tax than you have to.
Generic accountants may not go beyond the threshold of basic accounting for pharmacy owners. Small to medium-sized pharmacy owners with chains of premises commonly face cash flow and time challenges, making it difficult to manage the business.
How does RX Virtual Finance benefit pharmacy directors?
By working with RX Virtual Finance Ltd, pharmacy directors get:
- Industry Expertise: Accountants with decades of pharmacy expertise who know the pharmacy industry inside-out.
- Bespoke Services: Virtual accounting solutions designed specifically for each pharmacy.
- Staffing cost savings: We provide a comprehensive finance function, saving you the costs, headaches, and resources associated with hiring and training an in-house finance team
- Compliance: Help with complex tax laws and regulations set by NHS and HMRC.
- Strategy: Tax planning, cash flow planning and financial management to support long-term business success.
RX Virtual Finance Ltd is one of the few UK firms with a dedicated pharmacy accountant team.
Contact RX Virtual Finance
RX Virtual Finance Ltd
Alexandra Gate Business Centre 2
Ffordd Pengam
Cardiff. CF24 2SA
+44 333 038 7340
