TFMC Blogs

VAT and tax compliance can be complicated if you’re not an accountant but there are several ways that you can simplify the calculations for your VAT returns. One such method is to apply the VAT fuel scale charge for company cars to account for private fuel consumption.

There are many advantages to being a small business owner but it also has its challenges. Small businesses are heavily reliant on cash flow to stay afloat, especially when they are just starting out. A small business can’t afford to have bad debt and ineffective payment collection has been the downfall of many a small business owner.

The UK’s business rates system is “uneconomical” and “unsustainable”, according to the head of the Confederation of British Industry, John Allan. This article delves into what business rates are, what's wrong with the system and what is next.

The latest statistics provided by HMRC regarding R&D tax credits highlight the real value of R&D tax credits to the companies which claim them and the economy as a whole were revealed. This article highlights what R&D tax is and how to access/claim them.

As your business starts to expand it is worth looking into outsourcing jobs and roles which take up a lot of time, so that you are free to focus on the important day-to-day running of your company. One of the first companies a business might look into engaging is a qualified accountant, this article delved into how an accountant could help your business.

The Annual Investment Allowance (AIA) is a capital allowance in the UK, which allows businesses to offset the cost of certain assets, as long as they are newly acquired. This article explains who can claim, how to qualify & what is no included in AIA.

Accelerated Payment Notices were introduced in the Finance Act of 2014. These notices are issued by HMRC to taxpayers, demanding the immediate payment of tax and national insurance contributions that it believes are owed due to tax avoidance. This article looks at what happens when you get a APN, how it works and what your next steps are.

The Van Benefit Charge is the phrase used by HMRC to describe a charge on company vans which are also used personally by the employee. This article delves into who is liable to pay, what the charges are and how this differs from company car tax.

According to a 2018 survey by Lloyds Bank, CEO fraud (also known as impersonation fraud) is on the rise, with more than half a million businesses falling foul of the scam in that year. This article explains what CEO and invoice fraud is and how to prevent this.

There are a few standard things businesses can do to try to get paid promptly on completion of a job, including invoicing in advance, asking for a deposit to be paid upfront and invoicing immediately on completion of a job. This article explores how to complain to the Small Business commissioner and what will happen next.