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TFMC Blogs


Going Green With Enhanced Capital Allowances

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The Enhanced Capital Allowances (ECAs) legislation represents a Government initiative designed to encourage businesses to use more environmentally-friendly equipment and machinery, in an attempt to improve the carbon footprint of businesses in the UK.



The Need To Know Tax Guide For Limited Companies

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On registering as a limited company you automatically become eligible to pay Corporation Tax. This means that every year your business must fill out and file a Corporation Tax return. Corporation Tax is currently charged at 19% for all limited companies, regardless of their size.


The Rules On Business Expenses

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The level of personal and corporation tax you pay to HMRC is based upon the calculation of your annual profitability – profit is the amount you’ve made in sales minus what you’ve spent during the year.



EU Workers in the UK after Brexit

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The UK Government has set a deadline for the UK to leave the EU on 31 October 2019. This means that, as of 1 November, it is expected that freedom of movement between the UK and EU countries will end, with no legislative provision. For businesses who employ EU workers, this is an uncertain time, and one which can make employers feel nervous about what the future holds for their business and employees.


What is the CIS Scheme?

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The Construction Industry Scheme (CIS) is a taxation regime designed by the government to help tackle tax evasion within the construction industry


Construction VAT Changes Delayed Until October 2020

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With Brexit currently scheduled to happen on 31 October 2019, this delay will ensure that the proposed DRC changes won’t coincide with Brexit. However, HMRC will expect all affected businesses to utilise the time generated by the delay and plan to be ready for 1 October 2020.


Tax free childcare

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Tax free childcare is a government scheme which offers families up to £2,000 per year towards childcare costs, making it easier and more affordable for parents to juggle their work and family commitments.


Business rates now lower for small retailers

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Small retailers in England have been given a boost recently, thanks to a new scheme which offers small and medium-sized businesses a share in tax cuts that will help them to thrive in these unstable times. Whilst council tax, prescriptions, utilities and car tax are all due to go up over the next tax year, small and independent high-street businesses can enjoy a discount on their tax rates bills that should help to keep them afloat.