Prepare your ingredients first. Chop the onion, and grate the garlic with a microplane or chop it very finely. Dice the potatoes, carrots and peppers into bite sized pieces.
Start by warming some oil in a pot on medium to high heat. Add the onions, and sautee until they are soft and translucent, about 5 minutes.
Add the garlic, and sautee for another minute.
Finally, add the paprika and sautee for another 30 seconds while stirring.
Add the potatoes and carrots, and stir to coat the vegetables with the paprika.
Then, add canned diced tomatoes, vegetable stock, thyme, Maldon salt, pepper, a bay leaf and tomato paste.
Cover the pot with a lid, and leave it to simmer for about 15 minutes, or until the vegetables are almost cooked through.
Add the peppers and butter beans to the goulash, and leave the stew to simmer for another 5-10 minutes, until the vegetables and potatoes have cooked through completely.
Optionally, add salt and pepper to taste, then serve.