TFMC Blogs

According to HMRC’s latest figures, the number of Brits paying the highest tax rates has been higher than ever; double the amount of people compared to the same statistics two decades ago.

For the new tax year starting per 1st April, there will be some changes made to the national minimum wage to ensure that the standard of living for all UK workers is maintained in line with inflation.

You might have heard about the increase in the pension contributions and wonder how that will affect your business, or you as an employee. Both employee and employer will pay more into the pension scheme over the coming years, and the responsibilities of the employer will therefore increase as any mistakes will have more serious consequences. For many business owners, these responsibilities are still quite unclear. On this page, we shall outline the upcoming changes, and ways to deal with the increase in contributions.

A new year means new HMRC rules and regulations. Here is a brief overview on the things you need to know before the 5th of April.

More people submitted their self-assessment tax returns on time in 2018 when compared to 2017. However, this doesn't mean the tax-return for the year 2016/2017 has been smooth sailing. There are still three-quarter of a million people who missed the deadline for tax returns.

The current late filing system at HMRC has its faults. Many people who unknowingly miss the self-assessment deadline, are penalised instantly. HMRC has decided to change the rules, to ensure those who have inadvertently missed a deadline will not be punished for a simple mistake.

There is no better way of boosting morale within your business than by entertaining your staff in a social setting. It provides a sense of reward, strengthens bonds and allows your team to unwind. It may come as a surprise, but staff entertainment is a legitimate tax-deductible business expense

Philip Hammond has delivered the 2017 Autumn Budget today. We have summarised and highlighted all of the key points.

Happy 5th birthday to Auto Enrolment. Auto Enrolment is now in its 6th year as it turned 5 this month. Is it a happy birthday? We say it is, read more for further details.

We are delighted to announce that following a period of sustained growth, The Financial Management Centre's Sittingbourne and Hearne Bay office has now moved.