Sector Summary ― Pharmacies

Produced by Tolley in association with

Value Added Tax

Guidance

Introduction to the sector

Pharmacies represent one of the most complex sectors from a VAT perspective. The way that pharmacists operate mean there is a myriad of issues to consider, ranging from the way pharmacies receive funding, to the range of liabilities that can apply to standard operating models.

This guidance note includes a summary of the way the sector works and covers off the key VAT issues that need to be considered. It provides a starting point for advisers preparing for a meeting with clients which operate in this sector.

Pharmacies ― how do they operate

Pharmacies will operate either as a community pharmacy or a hospital pharmacy. Hospital pharmacies are based in both NHS and private hospitals, and dispense medication to both in-patients and out-patients, often working alongside doctors and nurses to find the best course of medication for a patient.

Community pharmacies can be found on the high street serving the local community, and usually operate as a retail business alongside the dispensing of medicines.

How

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