News
Important Message to Clients and Friends
09 September 2020
Our office is open again however before visiting please read the following update.
Please also see the News section of our website where we are posting COVID19 updates
Stay Safe all of you…The 10CA Team
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How will you rebuild and recover? Funding launched to cover cost of professional advice
20 August 2020
The value of cash flow forecasting, management accounts and revised business plans is set to come into stark relief as businesses look to rebuild and recover following the easing of lockdown. In recognition of the importance of these and other accountancy services to the recovery and a swift return to prosperity, the Government...
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Tax changes outlined in draft Finance Bill 2020 – 2021
19 August 2020
The Government has unveiled its draft legislation for the 2020 – 2021 Finance Bill (the Bill). The new proposals cover a number of measures that were previously announced in the 2020 Spring Budget. To help you gain a greater appreciation for potential tax changes on the horizon, we have prepared a summary of some of the key measures...
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Coronavirus Business Interruption Loan Scheme expanded to more businesses
19 August 2020
Following a change in EU state aid rules, the Government has announced that it will expand the Coronavirus Business Interruption Loan Scheme (CBILS) to certain businesses classed as “undertakings in difficulty” – those with large losses and debts. The UK remains subject to EU state aid rules during the Brexit transition period.
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VAT treatment of imported goods up to £135 to change under new rules
19 August 2020
VAT on imported goods with a value of up to £135 will be collected at the point of sale, not the point of importation from 1 January 2021. New guidance has been issued by HM Revenue & Customs (HMRC) which outlines how it anticipates the import of goods from outside the UK below this value to be treated for VAT after the transition period ends.
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HM Revenue & Customs publishes Job Retention Bonus guidance
19 August 2020
HM Revenue & Customs (HMRC) has published guidance setting out how the Job Retention Bonus will operate. The Job Retention Bonus was announced by the Chancellor at the Summer Economic Update on 8 July 2020 and will provide employers with a one-off payment of £1,000 for each previously furloughed employee continuously employed to 31 January 2021.
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Small business Covid recovery boosted by £20million in new grants
19 August 2020
The Government has announced new grants aimed at smaller businesses in England worth £20 million, to help them obtain the support they need to recover from the effects of the Coronavirus pandemic. Under the new scheme, small and medium-sized businesses will be able to obtain grants of between £1,000 – £5,000 that can be used to help...
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HM Revenue & Customs sets out Making Tax Digital plans for VAT and Income Tax
19 August 2020
HM Revenue & Customs (HMRC) has set out its plans for the future of the Making Tax Digital (MTD) programme, with confirmation of the timeline for the expansion of MTD for VAT and the introduction of MTD for Income Tax. Since its introduction in April 2019, MTD for VAT has required most VAT-registered businesses with a turnover...
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HM Revenue & Customs sets out details of penalties for breaches of furlough and self-employment scheme rules
19 August 2020
HM Revenue & Customs (HMRC) has set out full details of the penalties that will apply to employers and self-employed individuals who are found to have breached the rules of the Coronavirus Job Retention Scheme (CJRS) and Self-Employment Income Support Scheme (SEISS).
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Reminder: VAT payment deferral period has ended
19 August 2020
The financial support offered by the Government through the VAT payment deferral scheme has come to an end. This period, which was intended to support businesses struggling with the impact of COVID-19, ended on 30 June 2020. You must now pay any VAT due after this date on time as HM Revenue & Customs (HMRC) may apply surcharges.
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Case Studies
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A taste for growth, a thirst for knowledge
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A shared passion for architecture and a head for numbers
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Child's play with proactive accounts management
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Cut above the rest in personal management style
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A modern approach required for music moguls
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Taxing demands with old school charm
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Customer care is top of the list for packaging business
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Sometimes a business does exactly as it says on the tin
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Smiles all round for dental practice