Opticians

At Price Bailey, we aim to make accounting for optometrists and opticians as easy as it can be. By managing all aspects of optical practices by offering a specialist, tailored service that is right for your needs.

We’ve been providing expert accountancy services to opticians for many years, helping clients deal effectively with any issues. We’ll ensure you understand the opportunities available to you and help you comply with relevant legislation, all whilst supporting the long-term success of your business.

Whether you’re trading as a locum, a sole practitioner, in a partnership, or limited company, our team has a wealth of experience working with opticians and eye-care practitioners and understands the needs of your business.

The challenges that the optical industry face:

Overall, the outlook for opticians remains relatively positive. The growing eye health consciousness of consumers, coupled with increased time consumers spend looking at screens will see demand increase steadily. Within the next 20 years there is expected to be a 40% increase in demand for optical services.

Furthermore, plenty of opportunities also present themselves to opticians, with operators continuing to engage in a series of mergers and acquisitions to strengthen their position in the market. Advancements in technology are also seeing opticians take advantage of this, to differentiate their services, as well as there being a rise in specialist services such as laser eye treatment which is becoming ever more popular.

VAT for opticians

Our expert knowledge of the ever-changing VAT rules makes us the best choice for your advice. VAT can be complex when concerning what is standard rate VAT and what is exempt. Generally, optical services are exempt from VAT. However, the supply of goods, such as glasses, is taxable. Opticians typically make mixed supplies of exempt services and taxable goods. As such, there are rules on how they charge VAT and on the amount of VAT they can reclaim.

Why Price Bailey is the right choice as an accountant for opticians?

It is important that you choose an accountancy service that understands the complexities within the optometry industry. Our team of experts remain up to date on tax regulations, legislative changes to ensure the highest professional advice for our clients.

We assist practices to deal with all aspects of accounts, VAT, bookkeeping, payroll and taxation, as well as helping practice owners to manage their practices more efficiently and gain more control over their business.