Limited Company FAQ's

If one of your customers wants to set up a self-billing arrangement with you, they’ll ask you to agree to this in writing. If you agree, they’ll give you a self -billing arrangement to sign.

It’s an administrative time saver. As a supplier, you do not need to produce invoices, as these are being generated by your client, saving you time.

Self-billing is an arrangement between a supplier (your PSC) and a customer (your agency or client). Both customer and supplier must be VAT registered.

Generally they are in place for 12 months and should be reviewed annually to ensure there are no changes that would warrant a revised agreement.

If you work only in the UK for UK customers, then there are no significant business Brexit implications that could affect your working arrangements.

Yes - you can stop the cessation process if you change your mind - but if you have submitted your striking off form (DS01) to Companies House, then you have advised Companies House of your intention to dissolve your company.

This three month window is set by Companies House. Companies House states that a company cannot make an application for voluntary strike off unless all qualifying criteria have been met in the last three months.

You may not have raised sales invoices recently, but if you have incurred company expenses then this is deemed carrying on in business, hence the requirement to cease incurring further costs in the three month window set by Companies House.

Before cessation of a limited company can begin, there is a three-month window to establish cessation of trade, then it takes around three months to prepare cessation accounts. There may also be other activity that can take extra time to complete.

Cessation accounts are the final set of accounts your company will prepare and are in the same format as your annual financial statements. They cover all the activity from the date your company started trading – or when the last set of financial statements were prepared – up until your date of cessation.