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Covid-19 (Coronavirus) Update

Coronavirus is having a huge impact on all sectors of business. Despite this, businesses are still having to manage their books, file VAT returns, run payrolls and most importantly their credit control processes. TFMC is continuing to provide our full range of services through this difficult time. For the latest information and support visit our Blog section or use our app with regular updates sent direct to your phone.

TFMC Blogs

Coronavirus And Redundancy: What You Need To Know


Businesses have had no choice but to review their staffing levelsduring this difficult period. The Coronavirus Job Retention Scheme has had a considerable impact on these decisions, saving many from redundancy, but its withdrawal is imminent, and many companies must now consider whether they need to make redundancies.

5% VAT And Voucher Scheme Announced As Part Of New Measures To Encourage People Back Into Restaurants


Rishi Sunak, Chancellor of the Exchequer, said that these measures have been brought in to protect jobs in the hospitality and tourism industries, which have been severely impacted by the coronavirus pandemic. As lockdown was rolled out across the country, up to 80% of hospitality businesses were forced to cease trading, and 1.4 million workers in hospitality have been furloughed.

Start Your Startup Right


For start-ups right now, survival is the only thing they should be focusing on. Where marketing, growth and profit were all important for small businesses just six months ago, most companies are now realising that life in the post-coronavirus world means that their business plans and projections are effectively useless.

Planning For The End Of Furlough


Donna Morcom, a leading employment lawyer from Sekoya Limited, speaking to Business Live, said: “This is a very worrying time for employers and employees alike,” pointing out that many businesses may not be ready to get staff back to full time hours, or return to their pre-crisis structure.

VAT Deferments - A Return To Normal


The VAT payment deferments scheme which relieved businesses of their requirement to pay VAT during the Covid crisis has now officially ended. Now is the time you need to make arrangements to reinstate your payments to HMRC, in this post we explain what you need to do.

Top 5 Reasons Why Freelancers Need an Accountant


Are you a freelancer, are you classified as self-employed, are you currently a one-man band? This can be a challenging employment status to fill, commonly down to juggling every area of business. Being a freelancer can offer freedom, it can be rewarding, yet there are unglamorous jobs, part and parcel of self-employment, including your tax liabilities.

What Can a Business Learn From The Covid Crisis


Businesses have borne the brunt of the crisis in many ways, as social distancing has forced millions of companies to close their offices and workplaces, and entire workforces have been furloughed, moved to remote working or made redundant.