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TFMC Blogs


Special VAT Schemes

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

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

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

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

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).