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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

EU Workers in the UK after Brexit


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?


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


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


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


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.

VAT and Brexit


At the time of writing, we are still unsure on what basis the UK will be exiting the EU, whether this will be with or without a deal, and what conditions will be applied. The one thing that is certain is that, on the date of the exit, EU law will cease to apply in the UK.

How to pay self assessment tax


For most self-employed people, their self-assessment tax return is a necessary evil which they will need to understand and register for early on in their business' inception to avoid penalties.

Has Boris played a blinder


Boris has been crowned as our new PM. What can we expect? Are tax cuts on the horizon and will Brexit bring boom or bust? The team at TFMC take a look and suggest what the future may hold. Read on....