Welcome to Audtax, specialist accountants for opticians
At Audtax, we count many London-based eye care practitioners among our valued clients. We offer specialist services to ensure that your business finances are secure, as well as help you with personal wealth management.
With our tax advice and other accountancy services, we can help you to manage your business and personal finances more efficiently, allowing you to make informed decisions about the future.
Based in London but covering the whole of the UK, we work to exceptionally high standards, as we are sure you do, too. You can expect personal service from our dedicated team and benefit not only from our experience but from our in-depth sector knowledge.
If you work as an optician, ophthalmologist or optometrist, Audtax can help take the complication and effort out of accounting. Please get in touch to find out more about our specialist accountant service for the ophthalmic sector.
How can opticians benefit from having an accountant?
As an optician, Audtax can help you with financial planning and budgeting, as well as helping to maximise your profits, reduce costs and manage cash flow. We can also provide advice on tax obligations and help you set up robust systems for tracking income and expenses.
At Audtax, we understand the needs of your eye care business and can give proactive advice on issues from the NHS pension scheme to Corporation Tax returns, whether you are an individual, employee or part of a limited company.
Audtax accounting and financial services for opticians
As accountants for opticians, we can offer a full range of accounting services to help your optician business thrive, as well as manage your personal wealth.
Tax is complex, and it’s easy to miss out on valuable efficiencies. We have an in-depth knowledge of UK tax law and can provide valuable advice and services, including Corporation Tax, VAT returns and personal tax planning.
We can take care of compiling your annual accounts and liaise with Companies House and HMRC on your behalf to ensure your compliance and save you valuable time to focus on running your practice.
As a busy practice owner, it is essential to keep your cash flowing to pay salaries and purchase tools and equipment. The only way to keep a track of your income and expenditure is with disciplined bookkeeping.
To ensure you don’t suffer from negative cash flow, Audtax uses the latest cloud accounting software, such as Xero and Quickbooks. These remarkable accounting tools can transform the way you manage your finances, giving you live access to your accounts anywhere, any time and on any device.
Management accounting and advisory
Some businesses consider accounting an annual chore, but successful businesses understand that it is part of an informed business strategy. Monthly or quarterly management accounts can make a significant difference to how you run your optometry business and provide the clarity to make more profitable and sustainable business decisions.
The experienced team at Audtax go beyond routine accountancy and can assist you with all aspects of business planning. With regular reporting and our sharp commentary, we can help you to spot bumps in the road, as well as opportunities for cost saving and business growth.
Personal wealth management
When it comes to securing your personal finances and planning for retirement, Audtax can add a lot of value. We will ensure you take advantage of all the tax reliefs available to you to maximise your income and offer advice on pension planning, dividend payments, capital gains and inheritance tax.
FAQs about ophthalmic sector accountants
By partnering with an ophthalmic sector accountant, opticians can be more confident that their business is running smoothly, and they can make sound financial decisions with peace of mind. Here are some frequently asked questions:
Do you work with locum optometrists?
Absolutely, we work with any individual or company within the optometry profession, including locums.
What expenses can opticians claim?
An optician business incurs many business expenses that can be claimed back to lower your tax bill. Allowable expenses include equipment, rent payments, marketing, insurance premiums, employee wages and benefits, travel expenses related to the business, courses, professional fees, depreciation on equipment and professional subscriptions.
Additionally, if you carry out any kind of research and development, you may be entitled to R&D tax relief.