At Alexander Myerson & Co Limited you can be sure that you are dealing with Opticians Accountants who have a rich history in acting for Ophthalmic and Dispensing Opticians. We have an experienced team who have been dealing for many years with all areas such as financial reporting, taxation, payroll, book-keeping and those complex areas such as Vat and de-minimis testing for partial exemption.
We will work with you to really understand your business and help provide strategies to become more profitable whilst paying the least in tax that is legally possible.
Over the years we have assisted our clients in purchasing opticians and valuations, and clients of ours who have sold their practices. Indeed our reputation has stood the test of time as we are widely known as one of the leading Accountants for Opticians in the region.
We also understand that starting out as a self-employed locum optometrist can be quite daunting. It is our job to take that worry away. We explain things very simply and clearly outlining the process involved and ensuring that they meet the requirements placed on them by HMRC. For many, they will be asked to complete a Self Assessment Tax Return for the very first time. We will undertake this for them and provide them with all the necessary guidance to ensure that they can perform their duties without having to worry about these new burdens.
At Alexander Myerson & Co Limited we understand that sight is so important to your customers and their health. You do the best to spend time with them to ensure that they receive the best possible service. It is therefore not easy to have to deal with keeping your finances in control to ensure that your vision of where you want to take your practice is achievable. It is our job to make sure that we help keep you on the right track so that you can concentrate on doing what you do best on a day to day basis whilst we strive to ensure that you can realise your goals and targets.
Increasing your profits, assisting with expansion, providing financial forecasts and budgets, working out exit strategies, we will be with you all the way to ensure that we help achieve the best possible outcome for our clients.
Who can help
Any business that receives exempt income is partly exempt for vat purposes and de-minimis calculations will be required. Eye tests and dispensing services mean that Opticians will need to perform these calculations.
We would recommend that our advice is sought before purchase as Partial Exemption and De-Minimis will need to be considered to ascertain eligibility for reclaim.
It is possible to be a self employed locum optometrist. We will provide assistance in completing a Self Assessment Tax Return if you fall within the HMRC guidelines.
There are a number of ways to value an Opticians Practice. It could well be that an asset basis is used or an earnings basis taking into account Price/Earning Ratios.