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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

Covid-19: Merchant Services Don't Cancel - Communicate


As the Coronavirus lockdown seems likely to continue for the foreseeable future, many businesses will be looking to cut costs and save money. Acceptcards, our merchant services provider, have been talking with businesses and asking them to consider the implications of acting too hastily and cancelling direct debit payments or even contracts with their merchant services provider.

Government Business Loan Scheme- Pros And Cons


With the UK as a whole being ordered to lockdown in an attempt to limit the damage caused by the coronavirus pandemic, many businesses have been ordered to shut, or have been forced to shut due to being considered ‘non-essential’ in the current climate.

New Provisions For The Self Employed


On Tuesday 26th March, Chancellor of the Exchequer Rishi Sunak announced a set of additional measures designed to ease the financial pressures placed on the self-employed by COVID-19. The government has also assured the UK that even more help will be offered in time, as the situation develops.

What Are The Different Types Of UK Limited Company?


Whilst most people looking to set up a company are aware that they must choose between setting up as a sole trader or limited company, those who have not set up a company before might not know that there are lots of different types of limited company.

Changes To Employment Allowance


Put in simple terms, these changes effectively prevent any medium to large companies from claiming employment allowance. More than 100,000 employers are thought to be affected. For smaller companies there is more of a chance that they will still be able to claim, with experts predicting that more than 99% of micro-businesses, and 93% of small businesses are still eligible.

The 2020 Budget


The Chancellor of the Exchequer, Rishi Sunak, has delivered the 2020 Budget with the Coronavirus response centre stage. Here we have summarised some of the key announcements made so far.

Entrepreneurs’ Relief Might Be Ending Soon


Put simply, entrepreneurs’ relief offers a reduced rate of Capital Gains Tax (10%) due on capital gains that arise on the sale of a business, or the sale of a stake in a business, as long as certain conditions are met. This relief is available only to individuals, and for up to £10million of qualifying gains over their lifetime.

New Living Wage From 1st April 2020


The National Minimum Wage was introduced by Labour 20 years ago, in an effort to boost the wages of the lowest-paid workers and even the playing field for people across all of society. At the time there were critics holding firm that the move would cause mass unemployment, but these fears were proved to be unfounded and the legislation was a success, cutting the number of people officially defined as being low paid and reducing income inequality.