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TFMC Blogs


Making Tax Digital - the countdown has begun

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There are less than six months until the first phase of the government’s scheme to modernise the tax system comes into effect. After almost four years of updates, reports, and political wrangling, Making Tax Digital (MTD) for VAT will officially go live on the 1st of April 2019.


ISA, LISA, or pension?

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So you've reached a point in your life where you are starting to think about your retirement. But how can you really make the most of your savings and ensure you can enjoy your golden years comfortably? The three most dominant savings products on the market right now are ISAs, LISAs, and standard pensions. In this article, the Financial Management Centre team will be looking at what each of these schemes are and (hopefully) helping you work out which option is best for you.


Special VAT Schemes

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There are multiple VAT schemes available for VAT registered businesses. We look at retail schemes, second-hand schemes, the flat rate scheme for small business, annual accounting scheme, cash accounting scheme and the tour operators’ margin scheme.


The Ultimate Guide to Landlord Taxes

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Owning a property and renting it out for a living can be a difficult business to get right. You need to balance your tenants’ happiness with profit – and now HMRC are changing landlord tax laws. Keeping up with these new changes could be the difference between just staying afloat or thriving.



Late Filing Penalties

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The current late filing system at HMRC has its faults. Many people who unknowingly miss the self-assessment deadline, are penalised instantly. HMRC has decided to change the rules, to ensure those who have inadvertently missed a deadline will not be punished for a simple mistake.


Inheritance Tax Explained

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We have put together a concise guide to the basics of inheritance tax. By building an understanding of the key issues you will be much better placed to deal with the situation should it arise.


Making Tax Digital

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Recent pressure placed upon the government by various accountants, committees and business think-tanks has led the Treasury to make some significant changes to the planned roll-out of Making Tax Digital (MTD).