Roland Perry wrote:
In message , at 22:53:38 on Sun, 26
May 2019, JNugent remarked:
On 26/05/2019 18:21, Roland Perry wrote:
In message , at 11:56:16 on Sat, 25
May 2019, JNugent remarked:
On 24/05/2019 21:11, Roland Perry wrote:

JNugent remarked:

How Uber allocates their turnover is not relevant to the question
of what their turnover is.
Â*It is if the main way they "allocate" the funds is by sending 75%
to theÂ* drivers (on a booking agency basis) and keeping 25% commission.

How?

They are still turning the money over, no matter how it is sliced up
after receipt.

It goes through their bank account. It is all part of the turnover.
That's what turnover *means*. They could pay the drivers 99% of the
turnover, but it's still turnover.
If you look at a company like TheTrainline, the turnover they quote
is just the commission from the Train Operators (and some fixed
transaction fees from customers) [in the region of £150 million], not
the total of all the fares people buy [in the region of £2 billion].

If it were otherwise, any small enterprise on the verge of the
compulsory VAT registration turnover quantum could, by sleight of
hand, deduct the amounts they are liable to pay out for wages (that's
the biggy), business rates, fuel duties and VAT, national insurance,
etc, and claim not to be turning over enough to be forced to register.
You are fatally confusing gross profit margin with turnover.

That is exactly what I am not doing.

Turnover is turnover. Profit, whether gross or net, is something other
than turnover and somewhat less in size.

Profit is not the deciding factor when it comes to VAT registration.
Only turnover counts.

The turnover for someone like Uber or TheTrainline being the commission
element, not including the money that passes straight through to the
drivers and Train Companies respectively.

Yes, Uber refers to Gross Bookings and Revenue. The latter slipped to about
21.3% of the former in Q4 2018.

"Compared to the entire fiscal year of 2017, Uber’s gross bookings
increased 45 percent, to $50 billion in 2018. That resulted in a GAAP
revenue increase of 43 percent, from 2017 to $11.3 billion. Losses also
improved (decreased) from $2.2 billion in adjusted EBITDA losses in 2017 to
$1.8 billion in 2018. "

https://techcrunch.com/2019/02/15/uber-reports-3b-in-q4-revenue-rising-operating-losses/