Opticians & Optometrists accounting, handled.

Sight tests are VAT-exempt, frames and lenses are standard-rated, and dispensing fees are exempt — so most practices fall into partial exemption. You can only reclaim input VAT on the taxable portion of overhead costs, calculated under the standard method (or a special method if you've agreed one). We set up an apportionment that holds up to HMRC scrutiny and run the de minimis check quarterly so you're not missing reclaimable VAT.

Yes — disclosed separately, the dispensing fee qualifies as exempt and isn't subject to VAT, while the frame and lens portion is standard-rated. HMRC accepts this split provided it reflects genuine cost and is shown on the invoice. We help you set defensible split ratios for your dispensing software so the VAT saving is real and audit-ready.

NHS GOS sight test fees flow in monthly from PCSE and need to be reconciled against the eGOS submissions, separately from voucher redemptions on dispensing. We map them as exempt income, reconcile to the PCSE statements automatically, and flag any underpaid claims so they get re-submitted before the four-month claim deadline.

Frames should be valued at the lower of cost or net realisable value, with provisions for obsolete or display-damaged stock. Year-end stocktake is critical because frame margins are high and a £5,000 stock movement directly swings profit. We give you a simple stocktake template and reconcile it against your practice management system at year end.

Two practices usually means crossing the £90,000 VAT threshold if you weren't already registered, restructuring as a group or separate companies for risk and tax, and a properly consolidated set of management accounts so you can compare practice performance. We handle the second-practice setup, group structuring advice, and inter-company recharges so the numbers stay clean from day one.