What are the benefits?
Self-billing is more efficient:
- You don’t have to produce an invoice
- It reduces the administration for both parties
- It removes any margin for error as the invoices are automatically created from the approved timesheets/expenses – it’s an end to end process
Who makes the rules on Self-Billing?
HM Revenue & Customers (HMRC). The rules are set out in VAT Notice 700/62. You can find this on the HMRC website. Search for ‘self-bill’.
Does self-billing impact on my IR35 position?
Self-billing has no impact on your contractual or commercial arrangements between Catch and your Limited Company and has absolutely no impact on IR35 considerations.
Who designed the invoice format and layout?
The invoice format is a standard format that conforms to HMRC regulations and this cannot be changed. The invoice will show full timesheet detail (and expenses where applicable) and copies of the timesheet and expenses is attached.
Can anyone use self-bill?
Self-bill is only used for contractors working through a Limited Company. It’s not relevant if you are a PAYE worker or student.
Is the agreement with me or the Limited Company?
The agreement is between the Limited Company and Catch Resource Management Ltd.
The company has changed its VAT registration number. What do I need to do?
If your company has changed its VAT registration number or recently become registered you will need to send us a copy of the new VAT certificate, we will then provide you with a new Self-Billing agreement. Fill in a new form.
The Limited Company has changed its name. What do I need to do?
If the Company has changed its name BUT maintained the same VAT number, send us a copy of the change of name certificate issued by the Registrar of Companies. There is no need to sign a new Self Billing agreement. However if both the name AND the VAT number have changed you will also need a new Self Billing agreement. Fill in a new form.
My Company has now de-registered from VAT
If your company de-registers then you will need to inform us and complete a new Self Billing agreement. Fill in a new form
My system is set up to provide invoices. How will I cope with self-bill invoices?
Instead of providing your own invoices, you can use the self-bill invoices as part of your Limited Company’s accounting records. This is accepted by HMRC for VAT purposes. However, we recognise that you may have your own system to provide invoices. If you want to continue to do this, we suggest you produce your invoice but do not send it to us; instead attach it to the self-bill invoice.
When will my self-bill agreement expire?
It will expire 1 year after you sign it, we will contact you to let you know when you need to sign a new agreement. The self-bill agreement will run alongside your Contract Schedule One.
Who do I contact for more details?
As always, the contracts department will be happy to answer any queries that you may have. They can be contacted on 01202 589090 or firstname.lastname@example.org