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⏰ The Self Assessment deadline is approaching — are you ready?![]()
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31st January comes around fast, especially after the Christmas break. ![]()
If you submit a Self-Assessment tax return, now is the perfect time to get ahead and avoid the last-minute scramble.![]()
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A few smart steps can save a lot of stress:![]()
📌 Gather your income and expense records early![]()
📌 Check you’re claiming all allowable deductions![]()
📌 Make sure your payments on account are right![]()
📌 Ask for support if anything feels unclear![]()
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Avoid the end-of-January panic and start preparing today. Our Baldock team is here to help you 😊![]()
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#SelfAssessment #TaxReturn #Accountant #CharteredAccountant #TaxAdvice #McColes #Baldock
Is your small business taking part in Small Business Saturday?![]()
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Small Business Saturday UK is a grassroots, non-commercial campaign, which highlights small business success and encourages consumers to 'shop local' and support small businesses in their communities.![]()
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The day takes place on the first Saturday in December each year - Saturday 6th December this year - but the campaign aims to have a lasting impact on small businesses.![]()
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Marketing materials and details on how to take part are available on the Small Business Saturday website: smallbusinesssaturda#smallbusinesssaturdayuksa#smallbusinesssaturdays#baldocky#supportlocalbusinessa#hertsbusinesst#mccoless#SMEsoles #SMEs
From April 2026, Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA) will apply to those with total business and property income above £50,000. (From April 2027 the threshold drops to £30,000 and from April 2028, £20,000).![]()
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Once you are brought into MTD for ITSA, you must:![]()
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➡️Keep digital records of income and expenses for each business and property business you run (using software or spreadsheets with “bridging” software).![]()
➡️Submit quarterly updates to HMRC showing income and expenses for each period. The deadlines are 7th August, 7th November, 7th February and 7th May.![]()
➡️Submit a final declaration by 31st January after the tax year, confirming your final figures and any adjustments or reliefs.![]()
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HOW TO PREPARE NOW![]()
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Even if you won’t join MTD for ITSA until 2027 or 2028, it makes sense to plan ahead:![]()
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✅Review your record-keeping system and software options now.![]()
✅Ensure your accountant or bookkeeper can support digital submissions.![]()
✅Get into the habit of updating records regularly rather than annually.![]()
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At McColes & Co, we are already helping clients transition to digital record-keeping and providing training and software recommendations tailored to each business.![]()
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If you need advice or support with Making Tax Digital, get in touch with our Baldock team today.![]()
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#McColes #Baldock #Accountant #MTD #CharteredAccountant #SmallBusiness #HertsBusiness #Letchworth #Royston
As the Autumn Budget approaches on 26 November, several key financial changes are being speculated — here’s a quick summary of what might be announced:![]()
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🔹 Pension tax-free cash – The government may look to limit how much tax-free cash can be taken from pension pots, or adjust tax reliefs on contributions.![]()
🔹 Salary sacrifice arrangements – Possible changes to schemes that currently offer tax and National Insurance savings.![]()
🔹 ISA limits under review – The annual ISA allowance could be reduced, or new rules introduced to differentiate between cash and stocks & shares ISAs.![]()
🔹 Income tax & National Insurance – While rates are expected to stay the same, freezes to thresholds or targeted adjustments may bring more earners into higher tax bands.![]()
🔹 Property tax reforms – There’s speculation around possible stamp duty changes, new council tax bands, or even Capital Gains Tax being applied to main residences.![]()
🔹 Inheritance Tax (IHT) and Capital Gains Tax (CGT) – Both are under review, with potential cuts to allowances or higher rates being considered.![]()
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While nothing is confirmed yet, these discussions signal that tax and savings rules could look quite different in the coming year.![]()
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If you need any tax advice, before or after any upcoming reforms, our Baldock team is on hand to help. Book in for a free initial consultation today.![]()
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#AutumnBudget2025 #TaxUpdate #Pensions #ISAs #PropertyTax #Baldock #McColes #Accountant #HertsBusiness
With around a quarter of small businesses having experienced a cyber crime, it's now more important than ever to protect your business.![]()
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The National Cyber Security Centre has brought out a FREE cyber security toolkit to help keep your business safe. It's easy to follow and covers common cyber threats such as email hacking, data breaches and ransomware.![]()
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Find out more at: cybertoolkit.service.ncsc.gov.uk/![]()
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If you need any strategic advice for your small business, our Baldock team is here #cybersecuritye#hertsbusinesst#uksmallbusinessl#SMEi#baldockE #Baldock
Client reviews
Lisa helped us set up our business over ten years ago and has remained our accountant ever since. We can always rely on her and the team for support and advice. Whether you are setting up a new business or looking for help with an existing one, we wholeheartedly recommend McColes & Co.
Elwyn Simmons
Apollo Interiors