Tiny Shark Accounting

Tiny Shark Accounting 📍 UK | Accountant and Bookkeeper
🚀 Helping Creators & Small Business Owners get on top of their numbers
💫 Tax tips & tricks
🗳️ Xero Partner

You're not imagining it 👀HMRCs own ABAB survey confirms that business compliance is getting tougher, and on top of that,...
30/09/2026

You're not imagining it 👀

HMRCs own ABAB survey confirms that business compliance is getting tougher, and on top of that, the guidance out there for small businesses isn't quite up to scratch

Between MTD, director verification, software requirements, tax chances and employment updates, there is a lot to navigate as a small business

(And we won't get started on the cost of living or the general state of the world)

But you know what that means?

If you're building a business, you're a bit extra amazing 👏

Make sure you take time to celebrate what you're doing!

People LOVE talking about the personal allowance; i.e. the £12,570 of tax free earnings we each receive before we pay in...
22/09/2026

People LOVE talking about the personal allowance; i.e. the £12,570 of tax free earnings we each receive before we pay income tax.

News outlets are constantly posting stories about it because it's click-baity - people want to pay less tax and it's an easy story to get people interested.

On top of this, there is ALWAYS at least one government petition to increase the personal allowance. It's not new and it's not news.

As a reminder to all, let's wait for the budget or at least official HMRC sources for any tax related news. 🤗

Never forgetti, to tell HMRCi If you started a self-employed business, or have other, new and reportable income (like di...
16/09/2026

Never forgetti, to tell HMRCi

If you started a self-employed business, or have other, new and reportable income (like dividends!), between April 2025 and April 2026 - you must register with HMRC before 5 October 2026

It's easy to do online and sets you up for submitting your tax return before January (hint hint)

14/09/2026

Who knows your business exists?

Firstly, hopefully HMRC knows about your business and you are registered as self-employed or set up and ready to go as a limited company (other options also available).

But who else knows about your business and, importantly, do you have an online presence?

I'm finding more and more that having an online presence isn't a nice to have - it's an important to have. Particularly when it comes to building a sense of community, sharing information about your business and also tapping into younger audiences and younger consumers.

People look for your business and want to learn about it. If they find nothing, if they find a faceless website with no information about who's behind it, it can detract from your sales.

Have a little think about what your online strategy is and find people to help you with it.

Five ways I run my business ☕I outsource when it makes sense to.I systemise everything.I don't rely on my memory.I time ...
09/09/2026

Five ways I run my business ☕

I outsource when it makes sense to.
I systemise everything.
I don't rely on my memory.
I time block every week.
I don't fight my energy levels.

Referral fees 📢📢📢They're actually pretty common in the accounting and professional services worlds and it's worth being ...
07/09/2026

Referral fees 📢📢📢

They're actually pretty common in the accounting and professional services worlds and it's worth being aware of as a business owner

If you are recommended to a third-party by your accountant, they might get paid for that referral. That's not necessarily a bad thing but:

- your accountant should be telling you about any referral fees they might receive
- you need to make sure anyone you work with is the right fit for your business

Next time you are referred elsewhere, it's always worth asking if a referral scheme is in place for transparency ✨

Wednesday 28 October is the next Autumn Budget. Save the date (or wait for your accountant to tell you the important bit...
03/09/2026

Wednesday 28 October is the next Autumn Budget. Save the date (or wait for your accountant to tell you the important bits)!

Don't forget - there's always speculation on the run up to the event, but, for small businesses, many of that speculation is unhelpful and sometimes dramatised.

Don't get caught up in it. Wait for the news itself. Speak to an advisor if you need to.

Running a limited company? You should be approaching it proactively I'm afraid! To make the most of your numbers (and ta...
31/08/2026

Running a limited company?

You should be approaching it proactively I'm afraid!

To make the most of your numbers (and tax), you need to spend a little time on your company before your year end date passes... ➡️➡️➡️



1. Review your year to date numbers

This means running a financial year to date (since the start of your reporting year) profit and loss report so you can update your financial understanding of the company.

Did you make a profit? Or loss? If so, why?

You need this information to plan ahead.

2. Estimate your corporation tax

It won't be exact, but having a rough number in mind can help you manage the company cash and make sure you have enough squirrelled away to pay HMRC at a later date.

Having this estimate can help to provide peace of mind, but it gives you an idea of what you can otherwise do with the cash locked up in your business.

3. Consider making purchases before your year end date

If you are ALREADY sitting on a purchase or two, it may be beneficial to bring those purchases into the current financial year, which just means that any tax relief or capital allowances are claimed in the year.

This timing tweak can be helpful in some scenarios but please, please don't make purchases for the sake of it!

4. Review your unpaid invoices

It's time for a tidy up of those unpaid sales or even purchase invoices. Clear any of the old, bad or incorrect unpaid balances so that your reports are nice and accurate ahead of your year end.

This may also help with cashflow if you can get those sales invoices paid up.

And to be honest, you should be doing this one regularly anyway!

5. Prepare for your stock count

If this one is relevant to you (because you hold physical stock), don't forget to prepare for it. A stock count can be a large operation for big business, or a nice afternoon of organising if you're smaller.

Either way, don't fail to plan this in.

6. Check your directors loan balance!!

Don't assume it's fine, particularly if you are guilty of dipping into your DLA a bit too freely.

Make sure that any funds you owe to the company are swiftly repaid before your year end date to circumvent a

Sharing a few kind words from a lovely client. ⭐⭐⭐⭐⭐
27/08/2026

Sharing a few kind words from a lovely client.

⭐⭐⭐⭐⭐

24/08/2026

Chances are you've heard of a profit and loss report (and you're looking at it quite often!).

But many business owners don't understand the other half of the equation, which is your balance sheet.

A balance sheet is another financial report that essentially shows a snapshot of your business at a given date. So it will break down things like what your business owns, what your business owes and your equity, so things like the shares that you own in the company.

It is a really important financial report to have an understanding of as it can show the health and general liquidity and other things to do with running a business.

When did you last look at your balance sheet?

If the answer is never or you don't know, now is the time to!

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Leighton Buzzard
LU71EU

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Monday 10am - 4:30pm
Tuesday 10am - 4:30pm
Wednesday 10am - 4:30pm
Thursday 10am - 4:30pm
Friday 10am - 4:30pm

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