The 6 Biggest Taxi Services Mistakes You Can Easily Avoid

May 25, 2023

The most valuable thing in our life is time. In the modern rhythm, it is so important to keep up always and everywhere. We 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 proper place at the proper time.

Our service Nikolaev taxi is a city carrier that offers you its cars night and day. Among our main advantages is a wide price range. You can order a cushty VIP-class car or save your budget by hitting the street on an affordable economy option.

You will be satisfied with the quality 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 conditioning, no cigarette odor will 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 when the taxi driver was on christmas and examine if fuel receipts have been included for this period.

Not many taxation statements are enquired into because the system is situated 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 taxi near me hire and taxi office costs in general administrative expenses.

Household expenses

In the event that you run your taxi home-based business it is possible to claim a proportion of household expenses as business expenses in the taxi accounts. Household expenses are likely to be disallowed unless they’re either specific to the business enterprise or a specific area of your home is devoted entirely to your taxi business. Using part of a room part time wouldn’t normally be sufficient to include family members 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 would not attract income 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 people might use to lessen the tax liability. Care is required to 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 method of ensuring the taxi drivers tax bill is as low as possible in the future is undoubtedly to meticulously maintain good records of most 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. Your choice to claim mileage allowance or taxi running costs can and often does change through the financial year.

In general when a more expensive taxi cab is purchased then the capital allowance of 3,000 pounds will often outweigh the potential mileage allowance although if the vehicle is low value the mileage allowance might be the best option and a way 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.

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