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TFMC Blogs


When should you hire an accountant to deal with taxes?

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Hiring an accountant can save you money and free up time in which to grow your business interests. Moreover, partnering with a good accountant can help protect your legal positioning, guarding against common mistakes that have avoidable consequences.



Going Green With Enhanced Capital Allowances

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The Enhanced Capital Allowances (ECAs) legislation represents a Government initiative designed to encourage businesses to use more environmentally-friendly equipment and machinery, in an attempt to improve the carbon footprint of businesses in the UK.



The Need To Know Tax Guide For Limited Companies

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On registering as a limited company you automatically become eligible to pay Corporation Tax. This means that every year your business must fill out and file a Corporation Tax return. Corporation Tax is currently charged at 19% for all limited companies, regardless of their size.


Simplifying everyday tax for businesses

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This article is to highlight the review of tax processes for businesses that was carried out by the Office of Tax Simplification (OTS). The review was asked to focus specifically on smaller and newer businesses, as they seem to have the most difficulty complying with their tax obligations.


Construction sector VAT changes

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This article is for anyone who is working within construction that needs to know about the changes that are being made that are happening on the 1st of October 2019, significant changes are going to be introduced to the VAT treatment of supplies in the construction industry, The Domestic Reverse Charge (DRC), a piece of legislation announced in the 2017 budget, is being implemented on this date by HMRC.


VAT Fuel Scale Charges in 2019

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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.


Time to rethink business rates

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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.


How can an accountant help my business?

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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.