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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


VAT Deferments - A Return To Normal

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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

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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

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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.



Payroll Update On Statutory Parental Bereavement Pay And Leave

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This means that employees living in Northern Ireland are not eligible for SPBP if they have a contract of employment made under the Employment Rights (Northern Ireland) Order 1996. However, employees in Northern Ireland who are employed by companies in Great Britain, with a contract made under the Employment Right Act 1996, may be eligible, as long as all qualifying conditions are met


How To Build Your Business Credit Rating

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The importance of your business credit rating really comes into play when you wish to borrow money as lenders want proof that your business is safe to invest in, that you are likely to pay installments in full and on time, and your track record suggests you are unlikely to default in the future.


Covid-19 Furlough Job Retention Scheme FAQs

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COVID19 has created an uncertain time for all, across the globe, across industries, across businesses and across households. Within this concern, high volumes of common questions have been asked, with a focus on employment – as it stands, the Job Retention Scheme.


Bounce Back Loan For Small Businesses

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Launched after the controversial CBILS loan scheme this initiative seems to be succeeding where the former has arguable failed – with 464,393 approved applications as opposed to the 40,564 for CBILS, as of the 20th of May.


COVID-19 and Financial Services

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The ongoing coronavirus crisis is impacting all areas of life and this includes financial services. There are a lot of issues that businesses and other organisations will need to consider over the coming weeks and months. Here we will look at some of the most important areas and how they are being affected by COVID-19.


Business Interruption Loan Scheme – How We Can Help

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The Coronavirus Business Interruption Loan Scheme (CBILS) is a new scheme that was introduced by the Chancellor on 23 March 2020 and revised on 02 April. It provides support for small and medium businesses in the UK who may be experiencing cash-flow problems during the COVID-19 pandemic.