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TFMC Blogs

Three Quarters Of A Million People Filed Their Taxes Too Late

More people submitted their self-assessment tax returns on time in 2018 when compared to 2017. However, this doesn't mean the tax-return for the year 2016/2017 has been smooth sailing. There are still three-quarter of a million people who missed the deadline for tax returns.

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.


There is no better way of boosting morale within your business than by entertaining your staff in a social setting. It provides a sense of reward, strengthens bonds and allows your team to unwind. It may come as a surprise, but staff entertainment is a legitimate tax-deductible business expense

The Autumn Budget 2017

Philip Hammond has delivered the 2017 Autumn Budget today. We have summarised and highlighted all of the key points.

Auto Enrolment Pensions Progress Update

The Pensions Regulator's quarterly bulletin for April to June 2017, focusing on compliance and enforcement, has been released and it highlights a number of valuable points that businesses should take into account as they come to terms with the auto enrolment scheme.

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).