TFMC Blogs

A VAT inspection doesn't need to be a stressful experience. Preparation is key. In this blog we take a look at what to expect when the inspector calls ...

The UK government has announced legislative changes to the Finance Bill after concerns were raised over the rate at which changes were necessary and presumably, the readiness of both small businesses and HMRC to enact the required changes to their modus operandi.

Twice a year, HMRC publish a guide to the economy entitled, "Direct effects of illustrative tax changes". This guide illustrates a number of "What if ..." scenarios

General Election 8th June 2017. In a surprise move on Tuesday 18th April 2017, Prime Minister Theresa May called a snap General Election.

Recently, a number of our offices have taken questions surrounding HRMC's "Making Tax Digital" initiative. One of the most commonly asked questions is, "how will Making Tax Digital affect my small business?". We will discuss the HMRC initiative and address that very question and take a look a case study, showing you that moving your tax affairs online can be a simple process and managed quite easily by your local TFMC accountancy office.

You should give your employees a P60 each year on May 31st. If your software doesn't produce them automatically, you can order them here ...

The rapid rise and acceptance of cloud bookkeeping has forced many UK accountants and bookkeepers to change their traditional working practices. Technology bridges almost all physical distances, and a combination of phone, skype and cloud bookkeeping services means that many business owners never even meet with their accountants

When you're self-employed or running a small business, it is imperative you manage your income and outgoings carefully. You need your customers to pay you on time so you can manage your own finances and plan accordingly. Without a credit control system in place you make struggle to make a profit or worse still, your business could fail at the first hurdle.

Chancellor of the Exchequer, Philip Hammond MP has today announced a U-turn on his plans to increase the Class 4 National Insurance Contributions (NIC) made by self employed workers.

VED (Road Tax) increases are almost upon us (1st April 2017). Many new (we must stress, this increase applies to new cars only) cars will be hit by 3 year VED increases of up to 933% although electric cars will continue to be exempt from any VED payment.