Pharmacy finance, explained.
NHS Contract and Income · 6 min read
UK Pharmacy Closures: Independents vs Multiples, By the Numbers
UK pharmacy numbers fell from 11,206 (Jan 2021) to 10,391 (May 2026), net -815, while independents grew to 5,075 and multiples fell to 3,153.
NHS Contract and Income · 5 min read
Pharmacy Dispensing Workload and Regional Density: Fewer Pharmacies, More Items Each
Items dispensed per pharmacy rose 36.1% since 2019 as pharmacy numbers fell 11.7%. Regional density ranges from 14.99 to 20.9 per 100k. NHSBSA data.
Buying a Pharmacy · 7 min read
The Cost of Buying a Pharmacy, and Whether It Is a Good Investment
The true all-in cost of buying a pharmacy: purchase price, transaction taxes, professional fees, working-capital buffer and how the return actually works.
NHS Contract and Income · 6 min read
How Do Pharmacies Make Money? NHS Contract, Fees and Retail Explained
Community pharmacies earn mainly from the NHS contract: drug reimbursement, remuneration fees and growing service income. Retail is a smaller layer.
Locum Pharmacists · 10 min read
Locum Pharmacist Expenses and Self Assessment
GPhC fees, indemnity, CPD and travel between sites: the pharmacist-specific expenses you can claim on Self Assessment, plus MTD and cash basis explained.
Buying a Pharmacy · 9 min read
Pharmacy Business Loans: How the Finance Actually Works
How pharmacy acquisition loans are structured, what EBITDA covenants mean, and why lenders read the NHS contract rather than the till. Method-level guide.
Selling a Pharmacy · 8 min read
Pharmacy Exit Planning: A Timeline for Selling
A phased timeline for pharmacy owners planning to sell: value levers, BADR at 18% for 2026/27, CGT timing and contract-transfer steps across 2-3 years.
Buying a Pharmacy · 9 min read
Financial Due Diligence When Buying a Pharmacy
What financial due diligence on a pharmacy really covers: FP34 income verification, Category M margins, VAT mix, staff costs and regulatory transfer.
Buying a Pharmacy · 8 min read
How to Read a Pharmacy Sale Listing
Understand what NHS items per month, adjusted EBITDA and asking price really mean on a pharmacy sale listing, and what the ad never tells you.
Locum Pharmacists · 8 min read
Are Locum Pharmacists Self-Employed?
HMRC ESM4270 is locum-pharmacist-specific and restrictive. Understand the status tests, IR35 and CEST before assuming self-employment.
Buying a Pharmacy · 10 min read
Buying a Pharmacy in the UK: The Complete Checklist
Step-by-step checklist for buying a UK community pharmacy: NHS contract, regulated entry, GPhC, share vs asset, goodwill, due diligence and funding.
NHS Contract and Income · 8 min read
Category M and Clawbacks Explained: Why Your Pharmacy Margin Moves on Its Own
Category M sets reimbursement prices centrally and adjusts them retrospectively. Why your pharmacy gross margin moves without anything at the counter.
VAT and Retail Schemes · 5 min read
Do Pharmacies Pay VAT? Zero-Rated Dispensing, Standard-Rated Shelf, and Why Registration Usually Helps
NHS dispensing is zero-rated; most OTC retail is standard-rated. A pharmacy is a VAT-mixed business that reclaims more than a plain retailer expects.
NHS Contract and Income · 7 min read
The Drug Tariff Explained: How Reimbursement Works, and How to Track Monthly Changes
Plain-English guide to the NHS Drug Tariff: what it is, how reimbursement and remuneration work, the main categories and how to track monthly changes.
Buying a Pharmacy · 9 min read
First-Time Pharmacy Buyer: Finance and Affordability Explained
How to test whether you can afford to buy a pharmacy: deposit, loan, post-tax cash cover, finance-ready accounts and the NHS payment lag explained.
NHS Contract and Income · 7 min read
How the FP34 Payment Cycle Works: Submission, the NHSBSA Lag, and Cash-Flow Planning
FP34 prescriptions are submitted monthly; payment lands roughly two months later. How the NHSBSA lag and advance on account affect working capital.
Locum Pharmacists · 8 min read
Limited Company vs Umbrella for Locum Pharmacists: The 2026 Picture
Sole trader, own limited company or umbrella? A pharmacist-specific guide covering IR35 on pharmacy bookings, MTD from April 2026 and cash basis default.
NHS Contract and Income · 5 min read
Pharmacy First Income: The Separate Revenue Line Your Accounts Should Be Tracking
Pharmacy First income is a separate, growing revenue line. How it books differently from dispensing reimbursement and why it matters for your accounts.
Selling a Pharmacy · 10 min read
Pharmacy Goodwill: What It Is and What It Is Worth
How pharmacy goodwill is valued in the UK: the two method families, what drives the price up or down and the corporation tax trap on a company purchase.
Selling a Pharmacy · 8 min read
Preparing a Pharmacy for Sale: Accounts, Margin Story and BADR
How to ready your pharmacy for sale: clean NHS accounts, a defensible margin story, BADR at 18% for 2026/27 and CGT rate planning.
Buying a Pharmacy · 8 min read
Share Purchase vs Asset Purchase: Which Structure Should You Use to Buy a Pharmacy?
Share purchase: 0.5% stamp duty, inherit company history. Asset purchase: SDLT up to 5% on property, cleaner slate. Pharmacy-specific comparison.
VAT and Retail Schemes · 8 min read
VAT on Pharmacy Private Services and Pharmacy First Income
Pharmacist services can be exempt or standard-rated. Pharmacy First income is a separate line. Learn the partial-exemption test that most pharmacies miss.