Category Archives: Taxation

Essential CIS tax deductions: what contractors need to know

10 min read Understanding and navigating the complex ecosystem of the construction industry and the tax landscape is a crucial responsibility for contractors. The Construction Industry Scheme (CIS) tax deductions can be overwhelming, but mastering them is necessary for accurate tax filing and avoiding penalties. This knowledge empowers contractors, giving them control over their financial […]

UK Spring Budget 2023: Top key announcements

Banner Image- UK budget 2023: Top key announcements

The Spring Budget Statement for 2023 builds on the stability created by last year’s announcements. It focuses on working towards achieving three of the five pledges made by UK Prime Minister Rishi Sunak: halving inflation, reducing debt, and growing the economy.   The government aims to influence society through tax and financial systems, particularly by […]

The Autumn Statement – what does it mean for you?

Banner- The Autumn Statement – what does it mean for you?

Today, the Chancellor of the Exchequer, Jeremy Hunt outlined a series of sweeping measures to include tax changes and hidden tax increases, and cuts to Government spending.   We highlight the main points below which will affect us all, and if you have any specific questions about these matters, please do not hesitate to contact […]

Make calculating the tax on rental income easy: Top tips

Banner- Make calculating the tax on rental income easy: Top tips

As a landlord, your property is your most valuable asset. Letting out residential and/or commercial property is a great way to make passive income. However, navigating all the tax requirements related to reporting income tax on rental properties and capital costs can be tricky – unless you have a landlord accountant.   In this blog, […]

The negative consequences of not declaring rental income

yellow-rental-property

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 […]

What is the Domestic Reverse Charge and how does it affect my construction business?

Construction-Yellow

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 […]

Golding coffee mug

Fancy a cuppa
with us?

Get in touch with Golding Accountancy for guidance on the ins and outs of accounting, taxation and financial management? Let’s hang out and chat about it – it’s on us!
PS: We love biscuits.
Or, email us at info@wearegolding.com
Or, email us at info@wearegolding.com
xero
silver partner
Certified advisor
ACCA-square 1