In 2016, the then Chancellor, George Osborne, introduced a stamp duty surcharge of 3% on purchasing buy-to-lets and second homes. That means the 3% slab tax is based on the whole property price and payable on top of the standard stamp duty applicable. Secondly, in 2017, the government began withdrawing the total tax relief […]
Author Archives: Team Golding
02
Jun
Jun
Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) is set to change the way millions of self-employed business owners and landlords report their earnings to HMRC from 6 April 2024. Any sole trader or a landlord with a total business and/or property income above £10,000 per annum will have to comply with […]
02
Jun
Jun
Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) offers self-employed business owners and landlords a new way to report their earnings and pay income tax. MTD ITSA hopes to revolutionise tax administration so it is easier for taxpayers to get their taxes right. Who does MTD for ITSA affect? Anyone who is […]
25
Apr
Apr
Bookkeeping refers to the process of systematically recording all the financial transactions that a company undertakes. It is a subset of the accounting function that involves various activities such as recording transactions, listing debits and credits, maintaining and balancing ledgers, generating invoices, and completing payroll. Bookkeeping is clerical in nature and is indeed […]
25
Apr
Apr
Cloud accounting is not just a buzzword anymore. It has been recognised as the most efficient way for companies – large and small – to keep their books of accounts in order. At its simplest, the cloud helps you automate bookkeeping tasks and store all your data safely for any time, anywhere access. And […]
21
Apr
Apr
When you think of accounting, you might be thinking of a dreary room piled high with paperwork and occupied by hassled, grim-faced accountants. The truth isn’t nearly as bad – business accounting simply requires you to record all your transactions correctly and on time and regularly review your books to gauge your financial performance. […]
24
Mar
Mar
On March 23, 2022, the Chancellor of the Exchequer delivered his Spring Statement to Parliament. With so much uncertainty in the world now due to the conflict in Ukraine, rising fuel prices, proposed energy increases and worries about inflation, all eyes were on Mr Sunak to see if he was going to deliver some […]
16
Mar
Mar
As the owner of a small business, you have a hundred different claims on your attention at any point in time. It, therefore, makes sense to hire an accountant who can handle the finances for you and help you stay on top of taxes, overheads, and other money-related matters. What’s more, having an accountant […]
22
Oct
Oct
VAT can feel a little confusing at first. Is it voluntary? Mandatory? What do you need to do? You can voluntarily register your business for VAT at any point from day one of setting up a business. However, you are required to register for VAT when your turnover reaches the VAT registration threshold (currently […]
22
Oct
Oct
Research carried out by the British Business Bank in 2019 taught us that 56 per cent of SMEs used finance in the previous three years. Most commonly, this finance is made up of bank overdrafts, credit cards, and loans from individuals, closely followed by bank loans and commercial mortgages. Since 2020, you’ll know from […]
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Or, email us at info@wearegolding.com
