Elan Self Billing & Invoices

[Mr.Whippy]

Hi,

Quick question for anyone working through Elan using the self billing timesheet system.

Do I need to produce MyCo invoices for every timesheet I submit to keep for my records, in case HMRC inspect me? Or is the "Self Bill Invoice / Remittance" that Elan send on payment sufficient?

Cheers

[BolshieBastard]

The idea of SB is that you dont supply an invoice with the timesheet. That's a condition the agency makes with HMRC for VAT purposes.

Im through parity and they offer the same with SB and would expect any agency to follow suit.

EDIT, forgot to add, the agency will supply an invoice when they pay you.

[Mr.Whippy]

The idea of SB is that you dont supply an invoice with the timesheet.

Thanks, but I know you don't supply the invoice to the agency, that wasn't the question.... basically I wanted to know if the agency supplied combined self bill invoice/remittance when they pay MyCo based on a faxed timesheet is sufficient paperwork should HMRC inspect me. Which seems it is

[BolshieBastard]

Yes they do. See the edit comment that I added.

[pmeswani]

Thanks, but I know you don't supply the invoice to the agency, that wasn't the question.... basically I wanted to know if the agency supplied combined self bill invoice/remittance when they pay MyCo based on a faxed timesheet is sufficient paperwork should HMRC inspect me. Which seems it is

Personally, I would do both the Timesheet and the Invoice, primarily for peace of mind.

[BolshieBastard]

Personally, I would do both the Timesheet and the Invoice, primarily for peace of mind.

You're not supposed to. The agreement is between the agent and HMRC for VAT purposes and affects the date that VAT is due \ raised. If you issue an invoice, you could find some VAT becomes payable in a current VAT period rather than the next one.

Not a big issue unless you have a VAT investigation and they start asking why why VAT was paid in the later period.

As I said, you get an invoice so there's peace of mind there.

[scooterscot]

Personally, I would do both the Timesheet and the Invoice, primarily for peace of mind.

WHS

Did the same when I worked through them.

Also I keep an invoice system, invoice numbers, etc... I did it to keep track

[expat]

Personally, I would do both the Timesheet and the Invoice, primarily for peace of mind.

You can't.

The invoice that the agency pay is the invoice that they themselves raise for you (that's why it's self-billing, they bill themselves for you).

If you present to HMRC an invoice that is not the invoice paid by the agency then you are lying to HMRC, and it is better not to do that.

[AlanR]

I generate my own Invoice but that is purely to get the remittance into my Company Accounting software.

It wont hurt.

Alan

[expat]

I generate my own Invoice but that is purely to get the remittance into my Company Accounting software.

It wont hurt.

Alan

OK <pedant>it's not an invoice, it's an aide-memoire for entering into your accounting system</pedant>