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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

Recent court decision on van benefit rules


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.

CEO Fraud and Invoice Fraud What You Need To Know


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.

Tackling late payments by complaining to the Small Business Commissioner


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.

Director's guarantees


One of the benefits of setting up your business as a limited company rather than as sole trader is the idea of limited liability. This means that you personally are not liable for any debt that your company gets into, and can’t be pursued for it if the company gets into difficulty or closes. Many lenders will ask to put a condition onto your borrowing in the form of a director’s or personal guarantee, in order to secure the finance. This article explores what a directors guarantee is and the pros and cons.

Holiday lets vs property rental


Buy to let has, for a long time, been considered a great way for people to buy a home, with little risk of falling behind on their mortgage because tenants are covering mortgage payments however there has recently been a surge in interest in holiday lets, thanks to sites like Airbnb, which could persuade homeowners to think about this as an option. This articles delves into the pros and cons of both holiday lets vs property rentals.

Has Hermes created a new type of employment?


In a landmark step for workers’ rights, Hermes have struck a deal with their couriers and the GMB Union to create ‘self-employed plus’, a way for their couriers to remain self-employed, but with many of the basic employment rights enjoyed by contracted workers. This article delves into this "new employment" type.

Minimum wage changes from April 2019


This articles delves into the changes to Minimum Wage from April 2019 in line with the Low Pay Commission’s recommended guidelines, which take into account inflation and average earnings.

Systematising your business for greater success


This article is to help business owners running a growing business by systematising their business for greater success, the little tasks that can start to stack up and delegating some of those tasks to your employees can simply result in their time is now being compromised. By systematising your business, you can structure your own and your colleagues’ working day and in this article we will explain how you can systematise, Why you should systematise and some of the benefits associated with systematising.

Making the decision to incorporate


For some business owners, the decision to incorporate their companies can deliver real financial benefits. This articles examines what incorporating your company means, what the benefits are and how to do this.