Corporation tax return for micro companies in Bodmin

Corporation Tax returns for Bodmin micro companies

Corporation Tax is charged on a limited company’s taxable profit, not its accounting profit. The main rate is 25%, the small profits rate is 19% for profits up to £50,000, and profits between £50,000 and £250,000 pay the main rate less marginal relief. Getting the adjustments right, such as adding back depreciation, claiming capital allowances and removing disallowable expenses, is what keeps the bill accurate.

Corporation Tax returns for small companies for Bodmin businesses: local facts

Bodmin is in the Cornwall council area, in the South West region. Cornwall has around 25,575 VAT- and PAYE-registered businesses, and 22,640 of them, about 89%, have fewer than ten employees (ONS UK Business Counts, 2026). That is the group the micro-entity rules were written for.

The largest groups of micro businesses in Cornwall are construction (3,795), agriculture, forestry and fishing (3,665) and wholesale and retail (2,990). For construction companies in Bodmin, Construction Industry Scheme deductions, retentions and stage payments can distort profit, so we reconcile your CIS statements before the accounts are prepared. That puts construction at 17% of the local micro-business base.

Zooming in, the ONS neighbourhood area around Bodmin (Cornwall 014) has 310 VAT- or PAYE-registered businesses, and 260 of them (84%) are micro businesses.

Cornwall ranks 57 of the 1105 areas we serve by number of micro businesses, and its micro share of 89% is in line with the 89% average across them. In agriculture, forestry and fishing (3,665 micro businesses in Cornwall), seasonal income, grants and farm equipment need careful year-end treatment, so we tie your accounts to bank records and an asset register. In wholesale and retail (2,990 micro businesses in Cornwall), closing stock and the VAT treatment of different product lines are the usual pressure points, so we value stock carefully and check your VAT records.