Accountants

for opticians

Tailored accounting solutions for Opticians and Locum Optometrists.

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Accountants for Opticians
Accountancy services and tax advice for opticians

Accountancy services and

tax advice for opticians

Whether you are trading as a locum, a sole practitioner or in a partnership or limited company, our team has a wealth of experience working with opticians and eye-care practitioners and understands the sector's needs perfectly!

We understand that finances could be better spent growing your optometry practice. So, from locum work to business start-ups to growing practices, we have accounting and financial services to meet your every need.

Our experienced team can assist with annual accounts, income tax returns, and payroll and guide business strategy and development, Making Tax Digital for VAT, employment law, and LLP or limited company formation.

We can also help you with tax planning and compliance, pension planning and wealth management.

Fusion services

We provide a comprehensive range of accounting and tax services to Optometrists and Eyecare businesses.

Our accounting software partners

We can provide you with comprehensive accounting support and online software packages as part of our fixed-price packages, making your life as an Optician more stress-free!

To help you stay on top of your financial situation, plan for the future of your business, and make informed decisions, we have developed a suite of online accounting solutions, including Xero, FreeAgent, and QuickBooks.

We will work closely with you to create a business strategy that gives you the best possible chance of success. Our team can determine your company's structure, and we can assist you with any changes you need to make.

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Why choose us

dedicated accountant for all our Sole Trader

Dedicated accountant

We are putting our clients' needs at the heart of everything we do. You will be assigned a single point of contact who will know your business and work closely with you to meet your accounting needs.

Qualified & accredited accountants

Accredited accountant

Customers can rest easy knowing that all of our account managers have been trained and certified by the companies that provide the accounting software we use. So, you are in good hands.

ICAEW-ATT-accredited accountants

ICAEW & ATT registered

Our qualified and committed staff provide professional business guidance as members of the Institute of Chartered Accountants in England and Wales (ICAEW) and the Association of Taxation Technicians (ATT).

Transparency

Transparency

We will never send you an unforeseen bill. Our competitive monthly fees are all-inclusive and have no hidden costs.

Forward thinking

Forward thinking

We love bringing clients the latest technology and apps to streamline processes, improve cash flow & become more efficient through automation.

Transparency

Value add service

We are constantly striving to improve our accounting services to improve your financial situation. Contractor insurance, IR35 reviews, cash flow forecasting software and legal services are all included.

FAQ 's

faq

When an employee is required to use a visual display unit (VDU) as part of their regular duties, an employer can pay for an eyesight test and the cost of contact lenses or glasses without the cost being a taxable benefit.

Dispensing services are exempt from VAT for opticians who dispense glasses or contact lenses to their customers, but the supply of spectacles or lenses themselves are taxable.

HMRC has specific rules around glasses or contact lenses and whether they can be put through your limited company accounts as an allowable business expense.

Routine eye care is not eligible for tax deductions. Eye exams, eyeglasses, and contact lenses are part of routine ophthalmic treatment. Tax relief is available for medically prescribed orthoptic treatment.

If a sale occurs, current valuations of the property and other assets should be available, as should an accurate balance sheet of the company's liabilities and debtor recoverability. Because the valuation is based on profits that the company can generate or is expected to generate regularly. The tax implications of any sale must always be considered in terms of the company's Corporation Tax and the shareholders' tax liabilities.

Once your taxable sales reach the current VAT threshold (currently £85,000), you must register for VAT. You will have to charge VAT on all the standard-rated goods and services you provide- known as 'output tax'. However, you will usually be able to reclaim some (but not always all) of the VAT you pay on purchases - this is known as 'input tax'. You can get further information from the VAT Helpline on 0300 200 3700.

For the previous tax year, self-employed taxpayers must file an annual tax return by January 31st, pay any taxes due, and make two payments on account by January 31st and July 31st. Then, to determine your taxable profit, subtract any allowable deductions from your income.

If you are operating a limited company, you will need to file annual accounts and submit a tax return (9-months after your year-end). Your taxable profit is calculated as your income less any allowable expenses.

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