The 6 Biggest Taxi Services Mistakes IT IS SIMPLE TO Avoid

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The most valuable part of our life is time. In the modern rhythm, it is so vital that you keep up always and everywhere. We understand why perfectly, so we suggest you not to postpone important trips ?for later?, but to dial the Nikolaev taxi number and be in the proper place at the right time.

Our service Nikolaev taxi is really a city carrier that offers you its cars around the clock. Among 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 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 be quickly sent to you, and safely sent to your destination.

Taxi Running Costs

When completing the self assessment tax return taxi drivers should enter fuel prices in box 3.46 cost of sales not motoring expenses. A typical check carried out by any competent inland revenue inspector enquiring right into a self assessment tax return would be to check when the taxi driver was on christmas and examine if fuel receipts have been included for this period.

Taxis fife are enquired into as the system is situated 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 generally administrative expenses.

Household 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 are likely to be disallowed unless they are either specific to the business enterprise or a specific area of your property is devoted entirely to your taxi business. Using section of a room part time would not 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 up to 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 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 if 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 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. Your choice to claim mileage allowance or taxi running costs can and often does change through the financial year.

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

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