Author Archives: Team Golding

MTD for ITSA: What does it mean for landlords?

The UK government is committed to bringing its tax system entirely online through the Making Tax Digital (MTD) initiative. With a phased rollout already underway, it is described by the HMRC as “one of the most digitally advanced tax administrations in the world” that commits to “transform tax administration so that it is easier for […]

Property investing vs. trading: Benefits & tax implications

investing in property

Influenced by a chronic undersupply, rising demand for property in the UK and the turbulence of the last two years owing to the pandemic, long-term forecasts for property investing are incredibly optimistic.  We could see the UK home prices grow by 21.5% by 2025. On the other hand, JLL, the real estate and investment management […]

Taxation of rental income for landlords: A guide

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 available […]

Why bookkeeping is important for your business

Bookkeeping for business

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 the basis […]

Ease the pain of bookkeeping with Xero

bookkeeping easy with Xero

 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 […]

Basics of business accounting: What to know

Basics of business accounting: What to know

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. Particularly […]