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TFMC Blogs

R&D Tax Credits


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.

How can an accountant help my business?


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.

What is the annual investment allowance?


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


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.

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.