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TFMC Blogs

Minimum Wage and Living Wage Rise


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.

The Increase in Auto Enrolment Rates Explained


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.

Three Quarters Of A Million People Filed Their Taxes Too Late


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.

Late Filing Penalties


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

The Autumn Budget 2017


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