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Making Tax Digital for Income Tax (MTD ITSA) is starting from April and it will change how many small businesses and landlords report their tax to HMRC.![]()
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From April 2026: MTD applies if your annual business or property income is over £50,000![]()
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From April 2027: It will extend to those earning over £30,000![]()
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If you’re self-employed or a landlord and meet the threshold, you’ll need to:![]()
✔️ Keep digital records![]()
✔️ Use MTD-compatible software![]()
✔️ Submit quarterly updates to HMRC instead of one annual return![]()
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At McColes & Co, we help small businesses prepare with:![]()
🔹 Clear advice on whether and when MTD applies to you![]()
🔹 Help choosing and setting up the right software![]()
🔹 Ongoing bookkeeping and tax support to keep you compliant![]()
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Preparing early can save time, reduce stress and help you avoid penalties.![]()
📞 Contact us today to get ready for the April changes.![]()
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#MakingTaxDigital #MTD #SmallBusinessUK #SelfEmployed #Landlords #TaxSupport #Accountant #McColes #Baldock #HertsBusiness #Letchworth #Royston #Stotfold
As part of their online workshops for small businesses, Stevenage-based social enterprise Wenta is offering FREE AI training for small businesses.![]()
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Their latest online workshop - 'Practical AI for Your Business with Google Digital Garage' - harnesses the expertise of the team at Google to teach practical AI skills, including how to use AI to grow and transform everyday business challenges into business opportunities. Best of all, it's completely free to sign up.![]()
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Find out more and see which other workshops are running at wenta.co.uk/tra#smallbusiness![]()
#baldocks#Stevenaged#hitchinv#letchworthh#hertsbusiness #baldockbusinessB#wentaB#AIness #Wenta #AI
Missed the 31 January Self Assessment deadline? Don’t panic.![]()
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If you haven’t submitted your tax return yet, you’re not alone - and there are still sensible steps you can take.![]()
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Here’s what to do now 👇![]()
✔️ Submit your return as soon as possible – penalties increase the longer it’s delayed![]()
✔️ Pay what you can – even a partial payment can reduce interest![]()
✔️ Check if you have a valid excuse – HMRC may waive penalties in some cases![]()
✔️ Set up a Time to Pay arrangement if you can’t pay in full![]()
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The most important thing? Don’t ignore it. HMRC penalties and interest can add up quickly, but early action makes a big difference.![]()
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If you would like to be in a better position with your Self-Assessment this time next year, book in a consultation with our Baldock team today. ![]()
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#McColes #Accountant #Baldock #HertsBusiness #Royston #Letchworth #SelfAssessment #TaxAdvice
Struggling with your #SelfAssessment tax return? Help is still available tomorrrow 31st Jan via the HMRC phone lines and web chat.![]()
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Remember - even if you can’t pay your tax bill it can help mitigate penalties if you file on time.![]()
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#TaxReturn
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Not long to go! #selfassessment
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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