Just started a Ltd company, no customers or profit yet. Can I invoice a company for work I provide?

[GG2024]

I’ve just started a Ltd company, trying to move my hobby to a business. While it is building up, can I invoice a company I provide services for? It’s a jewellery repair company so will be polishing and repairing items.
Do I need to declare as self employed to do this? Or invoice from the Ltd company and wait for self assessment for tax implications???
All very new to this.

 

[Scalloway]

If you want to do it in your own name you need to register as self employed.

If you do it in the company name you will need to prepare accounts and a Corporation Tax return after the company's accounting year end.

If you wish to take money out of the company you need to declare a dividend from profits or register the company for PAYE.

 

[MyAccountantOnline]

I’ve just started a Ltd company, trying to move my hobby to a business. While it is building up, can I invoice a company I provide services for? It’s a jewellery repair company so will be polishing and repairing items.
Do I need to declare as self employed to do this? Or invoice from the Ltd company and wait for self assessment for tax implications???
All very new to this.

You can do either as Scalloway has said.

Can I ask why you set up a limited company?

It's important to understand and appreciate the differences between trading as a sole trade and a limited company and to ascertain which is best for you.

If you do decide to undertake work as a self employed individual and leave the company dormant bear in mind you must still submit accounts and a Confirmation statement to Companies House. Fines are issued for not doing it. I've seen many people caught by this.