Taxi Driver Online

slowing down might help too............

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Of all the things ive lost, i miss my mind the most

612 x 15p = £91.80

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£91.80 x 20% = £18 to the tax man on the extra profit....lol

and a noisier engine, and Tescos only gets me 45mpg

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Of all the things ive lost, i miss my mind the most

I spend £70 a week on my school run of 550 miles, in April i will get a 2.5% inflation rise = £1.85/day or £11/week

so ill be in pocket

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Of all the things ive lost, i miss my mind the most

Well good for you. You will be able to afford even more expensive diesel.

Nice to know the price doesn't bother you. I have to wonder why the fuel economy does.

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simple

everyone has to pay pump prices but my 50mpg is my edge, the others can belt around at 30mpg and lose money if the so wish

put it another way

you cant get diesel DOWN in price but you can get more miles out of it

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Of all the things ive lost, i miss my mind the most

It seems stupid driving economically, just to waste the saving on more expensive diesel.
Why not do both?

I can understand avoiding supermarket fuel, but even the branded stuff varies by around 5 or 6p a litre around here.

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but I get more mpg from better diesel, 42/44 (Morrisons) as against 47/49 (Shell) and my the engine runs better, im vat registered so i get the VAT back too

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Of all the things ive lost, i miss my mind the most

So is Shell better than BP or Esso? Is there some advantage to paying more for your Shell fuel than you could at another Shell forecourt?

BTW, unless you are running at a loss, you will pay more in VAT on your sales than you will ever claim back.

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I buy at 1 of the 4 or 5 main brands on my school run, i pass a couple of Morrisons and a Tesco but ive not seen any low prices, in fact they are the same as the main garages, a few of which have a "cheap fuel day" and as i do a regular rout 6 days a week i just choose the cheapest (main brand)

ref VAT, surely you realise how it works? i do a simple return every quarter and ive had the fuel VAT back, so HMRC get some, but its only what ive collected, or should i not bother with the 20% i get back (making my diesel £1.18 this week)

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Of all the things ive lost, i miss my mind the most

You add the VAT to your sales unless it is a metered fare and the VAT is included in it.
If you do lots of good account work You are OK. You charge the customer the VAT. The customer will reclaim the VAT that you charged. So for instance if you have done £1000 worth of work for the customer, you charge £1200 including VAT. The customer pays you the £1200 but claims back the £200 VAT so in effect the customer has paid £1000. To earn this £1,000 it has cost you say £200 for the fuel. You claim the VAT back on the fuel so the fuel has actually cost you £166.67.
For the operator who isn't VAT registered, he would invoice £1,000 and be paid £1,000 but would still pay £200 for the fuel. Oh and with our company we have some vehicles that are zero rated for VAT but we can still claim 100% of the VAT back. In fact at one time all our vehicles were zero rated and we would get a nice cheque from the VAT man every quarter.

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Grandad,

Oh yes, I know how it works. You collect VAT on behalf of HMG and you get to keep back any you have already payed out.
Net result is you pay VAT every quarter unless you make a loss.

As a taxi driver, I cannot legally add VAT to the metered fare. VAT registration would cost me money.
As a PH, If you are dealing only with VAT registered clients, then you may gain some advantage by defacto acting as tax collector to HMG.

Just don't forget, you need to pay VAT on all your sales, not just those to VAT registered clients.
Of course, as a good Tory, you wouldn't dream of avoiding tax, would you?

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That is the point. You are collecting the VAT from your customers on behalf of the tax man. It is not your money, it never has been your money and it never will be your money. It doesn't even show on your annual return. Profit and loss does not come into it. Even if you have made a loss you still have to pay any VAT that you have collected. It is not your money.

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Grandad,

Indeed, but the fact remains he would have to charge VAT on everything he does, including any cash work.
He only gets back what VAT he lays out. He will almost always pay VAT and very rarely will it go the other way.
In the crudest way of looking at it, he's making a loss if he's spending more than he's earning.

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So how does that work?

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