Welcome to the CTS Website
CTS is a sister company to the Chartered Accountancy practice Stewart Associates (Shrewsbury) Ltd whose founding director is Ian Stewart FCA, CTA.
Ian is a Chartered Accountant, Registered Auditor and Chartered Tax Advisor. His main interest is taxation although as a general practitioner, he is involved in all aspects of accountancy and company secretarial matters.
CTS is dedicated to providing personal assistance to one man companies particularly contractors in the computer industry. The taxation of personal service companies has changed significantly over the years with many attacks from HMRC in the form of "IR35", the managed companies legislation and income splitting. Such issues are addressed discussed and answered by CTS.
We provide a detailed spreadsheet which provides all the tools required to drive your company and to easily calculate your monthly take home pay, the liabilities due to the Inland Revenue, the tax efficient amount of dividend to withdraw, the VAT payable (usually under the Flat Rate Scheme) and the anticipated Corporation Tax liability as you go along.
The basic fee is £50 per month (plus VAT where appropriate). The first standing order is payable when the first fee is received by the contractor.
The service includes preparation of annual accounts, PAYE returns, all Corporation Tax returns (including dividends) Registrar of Companies returns, and straightforward individual Self Assessment returns. A company formation fee of £80 is chargeable at the outset to set the company in place.
CTS is a trading name of Contractor Taxations Service Ltd