Uber Eats earnings into Limited Company?

[hussein_787]

Hi

I don't know if anyone can advise me on this, I am currently a part-time ubereats driver and wanted to know if I could put my earnings into my limited company rather than into my personal?

so effectively work as a contractor,

there is also an option to change invoice settings through the uber eats driver dashboard which i could possibly invoice to my limited company?

Thank you in advance. Much appreciated

 

[Deleted member 315707]

Why could you not?

 

[hussein_787]

Thanks for your reply, because when i signed up they take NI number etc so I don't know if i can put into a limited company or not

 

[STDFR33]

Yes, you can put your earnings into your limited company.

It won't be shown as turnover, however. It will be a credit to your directors loan account.

 

[hussein_787]

Yes, you can put your earnings into your limited company.

It won't be shown as turnover, however. It will be a credit to your directors loan account.

Thanks - will it still be shown as turnover on my personal self employed?

 

[MyAccountantOnline]

Thanks - will it still be shown as turnover on my personal self employed?

No because you and the company are separate.

The company turnover wont be your income it will belong to the company.

Your Self Assessment tax return will show any income you have from the company which will typically be a salary and dividends.

 

[TheCyclingProgrammer]

Thanks - will it still be shown as turnover on my personal self employed?

I think what STDFR33 is saying that if you are engaged in some kind of contract for services between you personally and Uber Eats, simply having that money paid into a Ltd company bank account does not make it the earnings of the company. It is still your self employed earnings and will be taxed as such and any payments into the company bank account are effectively a director's loan from you to the company.

In order to achieve what you want to do, you would need Uber Eats to engage you via your Ltd company and have a contract that reflects this relationship. Any earnings would then be accounted for as company income.

You don't say how much you're earning in this line of work but bear in mind:

1) Operating as self-employed is much simpler. There are costs involved in running a Ltd company (you will want to engage an accountant).

2) You will still need to remunerate yourself by paying some kind of tax efficient combination of salary and dividends from the company. You will still need to report and pay income tax on these earnings separate to any corporation tax and tax returns the company will need to pay/file.

3) If you are operating through an intermediary in this way, you will need to consider IR35 and whether or not it would apply to your engagement with Uber Eats. If caught by IR35 it's very unlikely that this kind of setup would be worthwhile.