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 […]
Author Archives: Team Golding
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 […]
09
Jul
Jul
There are thousands of landlords in the UK, owning and renting out second properties. The majority of these landlords declare their income and pay taxes on the profits on their tax returns because they know the consequences of not declaring rental income. But what do you do if you have rental income that you […]
Blog, Business Challenges, Case Study
How full financial support helped Subvision Surveys propel from side hustle to £1.2 million in turnover in seven years
01
Apr
Apr
When we first met Jim, Subvision was a growing side hustle, turning over £40,000 as a result of weekend and evening work. At the time, the business was being run solely by Jim with the support of Subcontractor Keith – now a partner in the business. Most business owners in the early stages will […]
Blog, Business Challenges, Taxation
What is the Domestic Reverse Charge and how does it affect my construction business?
22
Mar
Mar
You may have already heard about the Domestic VAT Reverse Charge that came into effect from 1st March 2021. This is a change in the way contractors and subcontractors in the construction industry will account for VAT, specifically aimed at VAT registered businesses working under the Construction Industry Scheme. These changes can often feel […]
Business Challenges, Self Assessments, Taxation
What if I can’t pay my Self Assessment Tax in full by April 1st?
15
Mar
Mar
If you missed the payment deadline for Self Assessment on 31st January, there’s good news. HMRC are giving you more time to pay your Self Assessment Tax due to the impact of Covid-19. Although the deadline didn’t change in 2021 despite the financial hardship faced by many businesses in the Covid Crisis, taxpayers […]
Blog, Business Challenges
I deferred VAT payments due to Covid 19, how and when do I have to make payment?
08
Mar
Mar
Many business owners took advantage of the opportunity to defer VAT in 2020 as a result of the Government’s Covid-19 business relief. While we’re not out of the woods with lockdown just yet, it helps to know when you are required to make repayments, and how you can go about doing that. The good news […]
02
Feb
Feb
When it comes to all the financial stuff it takes to run a business, you have three main ways to get it done…
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