Pharmacies

The landscape of the Pharmacies sector in Ireland is changing, with pharmacy owners facing increased regulation and greater competition in the market-place, particularly with the emergence of corporate groups.

HLB Sheehan Quinn are specialists in accounting for retail pharmacies and work very closely with pharmacies to identify the opportunities that are influenced by the evolving sector and also highlight and manage the challenges.

Pharmacies Challenges

It’s important for pharmacies, big or small, to understand the choices they have to make when it comes to establishing the desired framework and structure of their business.

Our specialist advisors provide expert guidance to clients through the process to enable them to make informed decisions about the structure of their business.

Ultimately, keeping their best interests at heart, we draw on our extensive knowledge of the market and sector to advise clients through the decisions that safeguard their future and deliver maximum profitability in the future.

In an evolving and growing sector, there will come a time where Pharmacy owners will be faced with the expansion question, which will determine the future of their business and dictate their career path. There are key considerations to be made when this opportunity arises, including timing, location, scale and structure.

As experienced advisors to the sector with a deep knowledge of valuation for buying, selling and scaling up, HLB Sheehan Quinn offer trusted support to Pharmacies that are considering growing their footprint.

As with any business, Pharmacy Retailers can often succumb to focusing on the short-term future of their business, without given their long term plans due consideration.

Our expert guidance on succession planning enables our clients to keep on top of the day-to-day, whilst establishing a long-term strategy for succession to protect the future of their business.

Attracting and retaining talent is a big challenge for Pharmacies, as it is for other industries. Whether you want to reward your team for their hard work, recognise the loyalty of your senior staff members or secure a key employee with incentives to grow and share in the success of the business we have a solution for you.

The pharmacist’s scheme for VAT was introduced to address key operating issues in Retail Pharmacies, to ensure Businesses can avail of fair and accurate rates around goods for resale.We work closely with clients to help them understand the key criteria outlined in the scheme and requirements they need to consider to remain compliant.

Structuring

It’s important for pharmacies, big or small, to understand the choices they have to make when it comes to establishing the desired framework and structure of their business.

Our specialist advisors provide expert guidance to clients through the process to enable them to make informed decisions about the structure of their business.

Ultimately, keeping their best interests at heart, we draw on our extensive knowledge of the market and sector to advise clients through the decisions that safeguard their future and deliver maximum profitability in the future.

Expansion

In an evolving and growing sector, there will come a time where Pharmacy owners will be faced with the expansion question, which will determine the future of their business and dictate their career path. There are key considerations to be made when this opportunity arises, including timing, location, scale and structure.

As experienced advisors to the sector with a deep knowledge of valuation for buying, selling and scaling up, HLB Sheehan Quinn offer trusted support to Pharmacies that are considering growing their footprint.

Succession Planning

As with any business, Pharmacy Retailers can often succumb to focusing on the short-term future of their business, without given their long term plans due consideration.

Our expert guidance on succession planning enables our clients to keep on top of the day-to-day, whilst establishing a long-term strategy for succession to protect the future of their business.

Key Employee Incentives

Attracting and retaining talent is a big challenge for Pharmacies, as it is for other industries. Whether you want to reward your team for their hard work, recognise the loyalty of your senior staff members or secure a key employee with incentives to grow and share in the success of the business we have a solution for you.

Pharmacies Scheme for VAT

The pharmacist’s scheme for VAT was introduced to address key operating issues in Retail Pharmacies, to ensure Businesses can avail of fair and accurate rates around goods for resale.We work closely with clients to help them understand the key criteria outlined in the scheme and requirements they need to consider to remain compliant.

Our Experts

Darran Woods

An Associate of Chartered Accountants Ireland and an AITI Chartered Tax Advisor, CTA, Darran advises a wide range of clients on a range of issues specialising in outsourcing. A graduate of UCD Michael Smurfit Business School, Darran also holds a Masters in Accounting.

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Bruce Stanley

A Fellow of Chartered Accountants Ireland and an AITI Chartered Tax Advisor, CTA, Bruce has over 15 years' experience in practice.

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Maura Duffy

A Fellow of the Institute of Chartered Accountants in Ireland, Maura has over twenty-five years practice experience.

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Darran Woods

Accounts & Outsourcing Partner

An Associate of Chartered Accountants Ireland and an AITI Chartered Tax Advisor, CTA, Darran advises a wide range of clients on a range of issues specialising in outsourcing. A graduate of UCD Michael Smurfit Business School, Darran also holds a Masters in Accounting.

Darran services a broad client base from sole traders to group corporate entities offering business services to maximise business efficiencies.

In addition, Darran is a statutory auditor and has wide expertise in consultancy services such as finance proposals, mergers and acquisitions, due diligence, budgeting and cash flow, and business valuations. Darran is also a strategic advisor for many owner-managed and family businesses in their path towards growth and success.

Bruce Stanley

Tax Consulting Partner

A Fellow of Chartered Accountants Ireland and an AITI Chartered Tax Advisor, CTA, Bruce has over 15 years' experience in practice. Bruce has experience across all tax heads, specialising in corporate structuring and personal tax planning for entrepreneurs and owner managed businesses.

Bruce has a strong client focus providing bespoke commercial tax solutions to suit individual needs in areas such as business expansion, efficient cash extraction, employee incentivisation schemes and succession planning.

Bruce has presented on a variety of taxation matters both in Ireland and at European conferences on topics such as EU VAT case law, the Irish Holding Company regime, personal tax planning and tax efficient business investment.

Bruce has experience of advising across a broad range of sectors including Hotels and Leisure, Property Investment, Arts & Entertainment, Professional Services, Medical and Retail. With a keen interest in the arts and entertainment sector, Bruce serves as a board member of both Graphic Studio Dublin, Ireland's oldest fine art print studio and Rough Magic Theatre Company, Ireland’s leading independent theatre company.

Maura Duffy

Audit & Business Advisory Partner

A Fellow of the Institute of Chartered Accountants in Ireland, Maura has over twenty-five years practice experience.

Maura’s clients range from large corporates to private individuals, professionals, small and medium companies and groups across a number of sectors.

In addition, Maura acts as mentor to many indigenous enterprises for the management and development of their business focusing on company profitability and growth. Many of Maura’s clients have investments and business interests across a variety of sectors, which include professional services, retail, property investment, licensed trade, agriculture and private clients.

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