The most valuable part of our life is time. In the modern rhythm, it is so important to continue always and everywhere. Taxi rosyth understand this perfectly, so we suggest you never to postpone important trips ?for later?, but to dial the Nikolaev taxi number and become in the right place at the right time.
Our service Nikolaev taxi is a city carrier that provides you its cars around the clock. Among our main advantages is a wide price range. You can order a cushty VIP-class car or save your valuable budget by hitting the road on an inexpensive economy option.
You will be content with the caliber of services, because our taxi employs experienced drivers and polite dispatchers. Your order will be accepted accurately, a clean car with a heater, air conditioning, no cigarette odor will undoubtedly be quickly delivered to you, and safely sent 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 into a self assessment tax return is always to check once the taxi driver was on holiday and examine if fuel receipts have been included for this period.
Not many taxation statements are enquired into because the system is based upon trust but taxi drivers should ensure their accounts usually 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.
If you run your taxi business from home 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 part of a room part time would not be sufficient to include family members expenses in the taxi driver accounts.
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 work as it is an area some individuals might use to lessen the tax liability. Care must justify the partner being an expense.
Enter all business expenses in a named expense box on the self assessment tax return. Avoid entries in box 3.63 Other Expenses if possible as any significant amounts in this box may give rise to an Revenue enquiry into 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 that provides 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 the capital allowance of 3,000 pounds will most likely outweigh the potential mileage allowance although if the vehicle is low value the mileage allowance may be the best option and a method of saving valuable tax pounds which you are entitled to. The very best taxi accounting software will automate the comparison of taxi mileage allowances with taxi running costs doing the taxi accountants do the job.