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1 day ago

New Statutory Sick Pay (SSP) rules are being introduced from April 2026:🔹 SSP payable from day one (no waiting days)🔹 More employees eligible — the lower earnings threshold is being removed🔹 New rate — 80% of average earnings or £123.25 per week (whichever is lower)While these changes are designed to better support employees, they will have a direct impact on small businesses:- Increased costs — more staff qualifying and being paid sooner- Cash flow considerations — especially for smaller teams- Payroll updates required — systems and processes will need reviewingNow is the time to:✔️ Review your sickness and absence policies✔️ Check your payroll software is ready✔️ Factor potential costs into your budgetsIf you’re unsure how this affects your business or need any advice, get in touch with our Baldock team.#McColes #Accountant #BaldockBusiness #Payroll #BusinessAdvice ... See MoreSee Less

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McColes & Co Chartered Accountants

1 week ago

As the current tax year draws to an end it's a good time to assess whether your accountant could be doing more for you. At McColes & Co Chartered Accountants, we believe your accountant should offer more than just a box-ticking service. Our clients stay with us because we offer:✨ Clear, proactive tax advice🚀 Support to help grow your business - not just keep it compliant📞 Friendly, responsive service💷 Transparent feesSwitching is easier than you think and we'll handle everything for you.Book in for a free, no-obligation chat with our Baldock team and find out how easy switching accountants can be.#McColes #CharteredAccountant #Accountant #Baldock #Letchworth #Biggleswade #Royston #Stotfold #HertsBusiness ... See MoreSee Less

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McColes & Co Chartered Accountants

2 weeks ago

With the 5 April tax year deadline fast approaching, now is the time to review your finances. Many allowances reset each year – so if you don’t use them, you could lose them.Here are a few key areas to consider before the end of the tax year:✅ Use your ISA allowanceYou can currently invest up to £20,000 per year into ISAs, and any income or gains are tax-free – but the allowance does not roll over.✅ Review pension contributionsPensions can provide valuable tax relief and may help reduce your taxable income for the year.✅ Check your Capital Gains Tax positionThe CGT annual exemption is now £3,000, so it may be worth reviewing investments and planning disposals carefully.✅ Consider family tax planningCouples may be able to benefit from the Marriage Allowance or by structuring income and investments efficiently between partners.✅ Inheritance tax planningYou can make gifts of up to £3,000 each year without them being added to your estate for IHT purposes.💡 A little planning before 5 April can make a big difference to your tax bill.If you’d like help reviewing your position before the tax year ends, our team at McColes & Co are here to help.Get in touch today to discuss your personal tax planning.#McColes #CharteredAccountant #Accountant #TaxAdvice #TaxTips #Baldock #Letchworth #PersonalTax ... See MoreSee Less

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McColes & Co Chartered Accountants

3 weeks ago

From April 2026, many self-employed individuals and landlords will need to follow new digital tax rules introduced by HM Revenue & Customs.If your annual business or property income is over £50,000, you’ll soon be required to keep digital records and submit quarterly updates using compatible software.✅ MTD Checklist✔ Check if you fall within the £50,000 income threshold✔ Choose HMRC-compatible accounting software✔ Move your income and expense records into digital format✔ Ensure your bank feeds and records are up to date✔ Understand the quarterly reporting requirements✔ Speak to your accountant for guidance and setup supportPreparing now will help make the transition smoother and avoid last-minute stress as the deadline approaches.At McColes & Co, we’re helping clients get MTD-ready - from choosing the right software to ensuring everything is compliant before April.If you’re unsure whether MTD applies to you, now is the time to get in touch.#MakingTaxDigital #MTD #Tax #SelfEmployed #Landlords #McColes #Baldock #Accountant #Letchworth #Stotfold ... See MoreSee Less

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McColes & Co Chartered Accountants

4 weeks ago

Are You Paying More Tax Than You Need To?Many individuals and business owners overpay tax simply by missing reliefs, allowances or planning opportunities.With tax rules constantly changing, a quick review could save you money.At McColes, we make sure you only pay what you legally owe - not a penny more.Get in touch to arrange a FREE initial tax consultation today.#mccoles #accountant #baldock #TaxAdvice #letchworth #royston #stotfold #hertsbusiness ... See MoreSee Less

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