Having UC/PIP paid into a sole traders business account? I am self employed — Scope | Disability forum
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Having UC/PIP paid into a sole traders business account? I am self employed

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mjh2222
mjh2222 Community member Posts: 31 Connected
in Universal Credit (UC)
Hi

I am self employed and on UC and PIP, is it ok to call them and ask them to be paid into my sole trader business account instead of my normal current account?  I am not closing my normal account I just want to be paid where my self employment money gets paid into so it is all together to make it easier to manage.

Will they need to reasses my claims or anything? Will I still be paid next week as normal if I do that?

thanks
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  • calcotti
    calcotti Community member Posts: 10,010 Disability Gamechanger
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    Before they accept a new bank account I think you will have to go into JobCentre with proof of the account. Any change is very unlikely to get processed in time for a payment due next week.
    Information I post is for England unless otherwise stated. Rules may be different in other parts of UK.
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  • mjh2222
    mjh2222 Community member Posts: 31 Connected
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    Hi,

    Thanks for that, I do not mind where I am paid next week, it is more for the payment afterwards and onwards.

    I have LCWRA, would I still need to attend the job centre?  Just to show them my card?  I do not get on with my work coach and avoid her like the plague so how can I do this?

    Thanks
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  • MarkM88
    MarkM88 Community member Posts: 3,127 Connected
    edited December 2021
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    I advise checking the terms and conditions of the business account before you do, just to check it can be used for things like payments for benefits. 

    I’ve read some terms on some bank websites that say it should be used for business use only. 
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  • calcotti
    calcotti Community member Posts: 10,010 Disability Gamechanger
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    mjh2222 said:
    I have LCWRA, would I still need to attend the job centre?  
    Whether or not you have LCWRA has no relevance to verification of a bank account.
    Information I post is for England unless otherwise stated. Rules may be different in other parts of UK.
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  • poppy123456
    poppy123456 Community member Posts: 54,062 Disability Gamechanger
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    MarkM88 said:
    I advise checking the terms and conditions of the business account before you do, just to check it can be used for things like payments for benefits. 

    I’ve read some terms on some bank websites that say it should be used for business use only. 

    I agree with this. Before doing anything you need to check that you can do this. If you don't you could find your business acount being closed.
    I would appreciate it if members wouldn't tag me please. I have all notifcations turned off and wouldn't want a member thinking i'm being rude by not replying.
    If i see a question that i know the answer to i will try my best to help.
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  • mjh2222
    mjh2222 Community member Posts: 31 Connected
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    Thank you Mark that’s actually a very good point which I didn’t think of.

    I will call the bank first before anyone else.

    Thanks everyone and have a nice evening 
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  • chiarieds
    chiarieds Community member Posts: 16,103 Disability Gamechanger
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    Hi @mjh2222 - just to add to the comments above, & having been self-employed for some 30+ years (in the latter part having received DLA then later PIP), then I can only say that there needs to be a separation between your 'personal' & 'business' accounts. Certainly PIP should continue to go into a personal account, tho I have no personal knowledge about UC.
    What HMRC need (& I hope you use an accountant) are simple accounts as to your income & expenditure. As PIP is not means tested it won't be taken into account, but as I say, I don't know about UC. A good accountant won't cost you much if you're prepared to do simple, accurate accounts (mine cost £91 last year), but they will also advise you, so well worth it imho. Normally my accountant & I also meet once a year, but recently due to the pandemic we've talked over the phone on a couple of occasions instead. A good accountant  is really well worth having.
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