My Life, My Job, My Career: How 6 Simple Taxi Services Helped Me Succeed
The most valuable part of our life is time. In the modern rhythm, it is so vital that you continue always and everywhere. We understand why perfectly, so we suggest you never to postpone important trips ?for later?, but to dial maxi cab and be in the proper place at the proper time.
Our service Nikolaev taxi is a city carrier that provides you its cars night and day. One of our main advantages is really a wide price range. You can order a comfortable VIP-class car or save your valuable budget by hitting the street on an affordable economy option.
You will be satisfied with the standard of services, because our taxi employs experienced drivers and polite dispatchers. Your order will undoubtedly be accepted accurately, a clean car with a heater, air-con, no cigarette odor will be quickly delivered to you, and safely delivered to your destination.
Taxi Running Costs
When completing the self assessment tax return taxi drivers should enter fuel costs in box 3.46 cost of sales not motoring expenses. A typical check completed by any competent inland revenue inspector enquiring right into a self assessment tax return would be to check when the taxi driver was on holiday and examine if fuel receipts have been included for this period.
Not many taxation statements are enquired into as the system is based upon trust but taxi drivers should ensure their accounts do not contain this fundamental tax fiddle. Taxi running costs also include repairs, servicing and parts including tyres, road tax, taxi insurance and AA/RAC membership. Include radio hire and taxi office costs in general administrative expenses.
Household expenses
If you run your taxi home-based business you can claim a proportion of household expenses as business expenses in the taxi accounts. Household expenses will tend to be disallowed unless they’re either specific to the business or a specific section of your property is devoted entirely to your taxi business. Using section of a room part time wouldn’t normally be sufficient to include the household expenses in the taxi driver accounts.
Spouse Costs
You can claim expenses for partners who work for your taxi business and payments around 100 pounds per week wouldn’t normally attract tax or national insurance however any payments claimed in the taxi driver accounts should be real payments for real work done. The Revenue naturally adopt a strict take on taxi expenses claimed for partner are it is an area some individuals might use to reduce the tax liability. Care must justify the partner being an expense.
Other Expenses
Enter all business expenses in a named expense box on the self assessment tax return. Avoid entries in box 3.63 Other Expenses when possible as any significant amounts in this box may give rise to an Revenue enquiry in to the self assessment tax return.
The best approach to ensuring the taxi drivers goverment tax bill is as low as possible in the future is without a doubt to meticulously maintain good records of all taxi receipts and expenses and mileage covered which offers the opportunity for taxi drivers to compare the taxi running costs against mileage allowances and choose the most tax efficient option. The decision to claim mileage allowance or taxi running costs can and often does change during the financial year.
In general when a more costly taxi cab is purchased then your capital allowance of 3,000 pounds will often outweigh the potential mileage allowance although if the automobile is low value the mileage allowance might be the best option and a method of saving valuable tax pounds which you are entitled to. The best taxi accounting software will automate the comparison of taxi mileage allowances with taxi running costs doing the taxi accountants work for you.