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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.


IR35 coming to the private sector

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The Chancellor’s Budget for 2018 confirmed many contractors’ and their client companies’ worst fears – IR35 will be coming to the private sector within the next two years. But what does the recent expansion really mean for those in the private sector?



Contractor News Round-up

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One in seven of people in the UK are self-employed, with hundreds of thousands of Brits working as contractors providing additional knowledge, value, and capacity to the businesses and organisations they work for. We thought that now would be a good time to sit down and take stock of where we are in October 2018.


What is a Director’s Loan Account?

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Director's loan accounts offer limited company directors a lot of freedom to both invest in their business and draw money from their business. Since the introduction of Real Time Information requiring up-to-date reporting on the payment of salaries, director’s loan accounts have become even more popular as directors use them to take “dividend-like payments” from their business on a regular basis.


THE BUDGET 2018

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The Chancellor of the Exchequer, Philip Hammond, has delivered the final 2018 Autumn Budget before Britain leaves the EU. Here we have summarised some of the key announcements made so far.


How to Change Your Accountant to the Financial Management Centre

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There are some red flags that you should be aware of with your current accountant because you could be hindering your business's progression and paying more tax than you need to if you stay with an accountant that isn't as passionate about your business as you are. In this article, the Financial Management Centre will explain what to look out for when choosing a new accountant, and how to actually change practices.


What Is Invoice Factoring and How Can It Help My Business?

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Invoice factoring solves cashflow issues by freeing up any tied-up funds that your business has in unpaid invoices; but how does it do this? A business sells their unpaid invoices to a finance company. This specialist finance company is called an invoice factorer or an invoice discounter. They collect the payment on the invoices you issue to your customers on your behalf.


FREE Guide for Worried Directors

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The Financial Management Centre have contributed to a business guide, written by the KSA Group, for ‘worried directors’. The FREE guide offers impartial advice on business growth planning, financial planning and management, office/premises, marketing and technology to name a few.