Corporation tax return for micro companies in Grays

Corporation Tax returns for Grays 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 Grays businesses: local facts

Grays is in the Thurrock council area, in the East of England region. Thurrock has around 7,190 VAT- and PAYE-registered businesses, and 6,600 of them, about 92%, 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 Thurrock are construction (1,840), transport and storage (1,055) and wholesale and retail (905). If you work in construction in Grays, 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 28% of the local micro-business base.

Zooming in, the ONS neighbourhood area around Grays (Thurrock 016) has 685 VAT- or PAYE-registered businesses, and 640 of them (93%) are micro businesses.

Thurrock ranks 548 of the 1105 areas we serve by number of micro businesses, and its micro share of 92% is above the 89% average across them. In transport and storage (1,055 micro businesses in Thurrock), vehicle costs, fuel and capital allowances are large lines in your accounts, so we make sure each is claimed in the right year. In wholesale and retail (905 micro businesses in Thurrock), 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.