Taxi Driver Online :: View topic - Sorry if this has been asked a million times before but.....

I am thinking of starting out in the PH business and was wondering how the money is spread out. I intend to use my own car. So what does the controller get ? How much does insurance go up? How do I pay tax and NI etc?
Basically, can I make a good living out of it.
Cheers for any help.

it depends on your area, firstly you want to ask some of your mates, then get in touch with a PH company, alternatively rent a car for a couple of months. This way you will find out if it meets your expectations.

Quote:

When I did PH i made good money, Operator got £80 per week the rest was all mine.

now that i drive a Hack, I make better money!!

If you keep good records then you could get away without using an accountant, but it's usually a good idea to go through one anyway.
But keep a careful note of all your takings and expenses anyway, becaue the better your records, the less your accountant will charge.

Author:	Sheza58 [ Mon Nov 14, 2005 10:05 am ]
Post subject:	Sorry if this has been asked a million times before but.....
I am thinking of starting out in the PH business and was wondering how the money is spread out. I intend to use my own car. So what does the controller get ? How much does insurance go up? How do I pay tax and NI etc? Basically, can I make a good living out of it. Cheers for any help.

Author:	Sussex [ Mon Nov 14, 2005 6:23 pm ]
Post subject:	Re: Sorry if this has been asked a million times before but.
Sheza58 wrote: I am thinking of starting out in the PH business and was wondering how the money is spread out. I intend to use my own car. So what does the controller get ? How much does insurance go up? How do I pay tax and NI etc? Basically, can I make a good living out of it. Cheers for any help. I think at last count it was just over a million. Try this for some pointers http://www.taxi-driver.co.uk/phpBB2/vie ... php?t=2658 As for the tax and NI lark, I would have a chat with an accountant.

Author:	chipper [ Mon Nov 14, 2005 11:15 pm ]
Post subject:	Re: Sorry if this has been asked a million times before but.
[/quote] I think at last count it was just over a million. Part timer

Author:	187ums [ Mon Nov 14, 2005 11:30 pm ]
Post subject:
it depends on your area, firstly you want to ask some of your mates, then get in touch with a PH company, alternatively rent a car for a couple of months. This way you will find out if it meets your expectations. When I did PH i made good money, Operator got £80 per week the rest was all mine.

Author:	Skull [ Wed Nov 16, 2005 6:15 am ]
Post subject:
187ums wrote: it depends on your area, firstly you want to ask some of your mates, then get in touch with a PH company, alternatively rent a car for a couple of months. This way you will find out if it meets your expectations. Quote: When I did PH i made good money, Operator got £80 per week the rest was all mine. All of a sudden everything falls into place

Taxi Driver Online http://www.taxi-driver.co.uk/phpBB2/

Sorry if this has been asked a million times before but..... http://www.taxi-driver.co.uk/phpBB2/viewtopic.php?f=1&t=2815	Page 1 of 1

Author:	187ums [ Wed Nov 16, 2005 2:49 pm ]
Post subject:
now that i drive a Hack, I make better money!!

Author:	Skull [ Wed Nov 16, 2005 3:10 pm ]
Post subject:
187ums wrote: now that i drive a Hack, I make better money!! How much better?

Author:	187ums [ Wed Nov 16, 2005 4:46 pm ]
Post subject:
much much better!

Author:	Skull [ Wed Nov 16, 2005 5:29 pm ]
Post subject:
187ums wrote: much much better! Give me a clue?

Author:	TDO [ Wed Nov 16, 2005 6:00 pm ]
Post subject:	Re: Sorry if this has been asked a million times before but.
Sheza58 wrote: I am thinking of starting out in the PH business and was wondering how the money is spread out. I intend to use my own car. So what does the controller get ? How much does insurance go up? How do I pay tax and NI etc? Basically, can I make a good living out of it. Cheers for any help. A typical rent is perhaps £60 to £100 a week, but this shouldn't be the biggest issue, because if the £60 gets you £300 a week in jobs but the £100 gets you £1,000 then the choice is obvious. Insurance is unlikely to be much below £1,000 a year when you start, and could be several thousands depending on various factors. As with insurance for private cars, it pays to shop around, so have a look at the specialist insurers on our links pages - the household name insurers don't normally deal with the trade: http://www.taxi-driver.co.uk/links.htm As for tax and NI, you generally pay it twice a year (based on your profits), so the sums can be quite big, so you have to budget for them. The Class 2 NI is paid quarterly (I think), but it's not a huge amount of money. If you keep good records then you could get away without using an accountant, but it's usually a good idea to go through one anyway. But keep a careful note of all your takings and expenses anyway, becaue the better your records, the less your accountant will charge.

Author:	Guest [ Wed Nov 16, 2005 8:12 pm ]
Post subject:	Re: Sorry if this has been asked a million times before but.
TDO wrote: If you keep good records then you could get away without using an accountant, but it's usually a good idea to go through one anyway. But keep a careful note of all your takings and expenses anyway, becaue the better your records, the less your accountant will charge. i used to have a fab accountant. but the bugger went and died.

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