Corporation tax return for micro companies in Plymouth

Corporation Tax returns for Plymouth 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 Plymouth businesses: local facts

Plymouth is in the South West region. ONS figures for 2026 count 6,265 VAT- or PAYE-registered businesses in Plymouth, and 5,455 of them (87%) employ fewer than ten people. Many are small enough to use the micro-entity regime.

The largest groups of micro businesses in Plymouth are construction (1,125), wholesale and retail (815) and professional, scientific and technical services (710). For construction companies in Plymouth, 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 21% of the local micro-business base.

Zooming in, the ONS neighbourhood area around Plymouth (Plymouth 027) has 670 VAT- or PAYE-registered businesses, and 525 of them (78%) are micro businesses.

Plymouth ranks 658 of the 1105 areas we serve by number of micro businesses, and its micro share of 87% is below the 89% average across them. In wholesale and retail (815 micro businesses in Plymouth), 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. In professional, scientific and technical services (710 micro businesses in Plymouth), fee income, work in progress at the year end and how directors are paid are the key decisions, so we plan these with you before the accounts are finalised.