McColes & Co Chartered Accountants

McColes & Co Chartered Accountants Chartered Accountants
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If you need to submit a tax return for 2025/26 for the first time, you must notify HMRC by today, 5 October 2026.You may...
05/10/2026

If you need to submit a tax return for 2025/26 for the first time, you must notify HMRC by today, 5 October 2026.

You may also need to reactivate your account if you’ve registered before but didn’t need to submit a return for 2024/25.

Started working for yourself, earning from a side hustle or receiving rental income? Check whether you need to register.

The deadline for submitting your online return and paying any tax due is 31 January 2027 - but registration comes first.

Unsure where you stand? Contact our Baldock team for clear, practical advice.

🌐 https://www.mccoles.co.uk

Whether you sell handmade products, freelance in your spare time or earn money creating content, it’s worth keeping trac...
28/09/2026

Whether you sell handmade products, freelance in your spare time or earn money creating content, it’s worth keeping track of what comes in.

The key figure is £1,000 of gross trading income in a tax year. That means money received before expenses, across all your side hustles combined. If you go over it, you’ll usually need to tell HMRC. It doesn’t mean you’ll pay tax on every pound you’ve taken.

Selling a few of your own unwanted items is generally different from buying or making things to sell for a profit.

Unsure whether your extra income counts as trading, or what you need to declare? Get in touch with our Baldock team.

When you’re running a business, it’s easy to leave tax planning until your Self Assessment deadline approaches.But takin...
21/09/2026

When you’re running a business, it’s easy to leave tax planning until your Self Assessment deadline approaches.

But taking a more proactive approach could help you make better use of available allowances, claim all legitimate business expenses and avoid paying more tax than necessary.

It’s worth regularly reviewing:

• Whether you’re claiming all allowable expenses
• How and when you make pension contributions
• Your cash flow and payments on account
• Whether VAT registration would benefit your business
• Whether operating as a sole trader remains the right structure as your business grows

At McColes & Co, we take the time to understand your business and provide practical, tailored advice - not simply complete your tax return.

If you’re unsure whether you’re operating as tax efficiently as possible, get in touch with our team for a review.

From 6 April 2027, most unused pension funds and pension death benefits will be included in a person’s estate for Inheri...
14/09/2026

From 6 April 2027, most unused pension funds and pension death benefits will be included in a person’s estate for Inheritance Tax purposes.

For many families, that could mean a higher IHT bill than expected — particularly where there are significant pension savings alongside property and other assets.

The good news is that there is still time to plan.

At McColes & Co, we can help you understand how the new rules may affect your estate, review your current arrangements and consider the steps you may be able to take before the changes come into force.

If you’re unsure what the new pension rules could mean for you or your family, get in touch with our Baldock team.

For small business owners, the start of autumn is a great opportunity to take a fresh look at how your business is perfo...
07/09/2026

For small business owners, the start of autumn is a great opportunity to take a fresh look at how your business is performing and where you want it to go next.

A business healthcheck with McColes & Co can help you review your numbers, cash flow, costs, tax position and plans for the months ahead — and highlight any areas that could benefit from a little attention.

If the summer has been busy, now is a good time to regroup, refocus and make sure your business is in good shape for the rest of the year.

Local business? Local advice.

Get in touch with our Baldock team to book your business healthcheck.

Running a small business comes with big decisions - and sometimes you just need the right advice to move forward with co...
01/09/2026

Running a small business comes with big decisions - and sometimes you just need the right advice to move forward with confidence.

At McColes & Co, we offer a free initial consultation for small business owners - giving you the opportunity to talk through your challenges, ask questions and explore practical solutions with our experienced professionals.

Whether you’re:
✔️ Looking to improve cash flow
✔️ Planning for growth
✔️ Dealing with financial pressures

We’re here to help - with practical, straightforward advice..

📞 Get in touch today to book your free initial consultation with our Baldock team.

Starting a business is exciting, but there is a lot to think about.From choosing the right business structure and regist...
24/08/2026

Starting a business is exciting, but there is a lot to think about.

From choosing the right business structure and registering with HMRC to managing cash flow, bookkeeping, payroll and tax, getting the right advice early can save time, reduce stress and help you avoid costly mistakes.

At McColes & Co, we support start-ups with practical, straightforward advice tailored to the way they want to grow.

Whether you are still shaping your idea or have already started trading, we can help you build strong financial foundations from day one.

Get in touch to arrange a free initial conversation.

Struggling to keep on top of payroll?Running a small business is demanding — but your payroll doesn't have to be. At McC...
17/08/2026

Struggling to keep on top of payroll?

Running a small business is demanding — but your payroll doesn't have to be. At McColes & Co, we provide fully compliant payroll support services tailored for small businesses like yours:

✅ Weekly or monthly payroll processing
✅ HMRC submissions handled for you
✅ PAYE, pensions, and holiday pay sorted
✅ Confidential, compliant, and always on time

We’ll make sure your team gets paid correctly, so you can stay focused on growing your business.

Get in touch today to find out more.

Many people are unaware that the amount that can be claimed for business journeys made in your own car or van has incre...
10/08/2026

Many people are unaware that the amount that can be claimed for business journeys made in your own car or van has increased.

From 6 April 2026, the approved rate is:

🚗 55p per mile for the first 10,000 business miles
🚗 25p per mile for any additional business miles

The new 55p rate has increased from 45p and applies retrospectively from the start of the 2026/27 tax year.

Employers can choose how much they reimburse, but where an employee receives less than the approved rate, they may be able to claim tax relief on the difference.

The same mileage rates can also be used by eligible self-employed people who calculate their vehicle costs using simplified expenses.

Not sure what you can claim or how the change affects your business records? Speak to our Baldock team for advice.

VAT can be one of the more complicated areas of running a small business.From registering at the right time and choosing...
03/08/2026

VAT can be one of the more complicated areas of running a small business.

From registering at the right time and choosing the most suitable scheme to preparing accurate returns, reclaiming VAT and understanding how the rules apply to larger purchases, it is easy to make costly mistakes.

Last week's changes to the VAT Capital Goods Scheme are another reminder that VAT rules do not stand still.

At McColes & Co, we provide practical VAT support tailored to your business, helping you stay compliant, manage your obligations and avoid paying more than you need to.

For advice on any aspect of VAT, speak to our Baldock team.

Address

1st Floor, 28 Whitehorse Street
Baldock
SG76QQ

Opening Hours

Monday 8am - 4:30pm
Tuesday 8am - 4:30pm
Wednesday 8am - 4:30pm
Thursday 8am - 4:30pm
Friday 8am - 4:30pm

Telephone

+441462547700

Website

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