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Receipts
http://www.taxi-driver.co.uk/phpBB2/viewtopic.php?f=1&t=3700		 Page 1 of 2
Author:  LeonElport [ Wed May 17, 2006 8:08 pm ]
Post subject:  Receipts
I hear that if you have an accountant, they can tell you how you can save money on household items by claiming the vat back off them and classing them as use for the taxiing? Anyone have a list or anything ?
Author:  peebee [ Wed May 17, 2006 8:16 pm ]
Post subject:  Re: Receipts
LeonElport wrote:
I hear that if you have an accountant, they can tell you how you can save money on household items by claiming the vat back off them and classing them as use for the taxiing? Anyone have a list or anything ?


As you work from home, you can also get a proportion of your household running costs ofset against tax, as well as work clothing, and any cleaning products that may be used.
Author:  TDO [ Wed May 17, 2006 8:19 pm ]
Post subject: 
LeonElport wrote:
I hear that if you have an accountant, they can tell you how you can save money on household items by claiming the vat back off them and classing them as use for the taxiing? Anyone have a list or anything ?


If you can't think of them yourself then chances are you would have difficulty persuading the taxman that they're tax deductible.

Perhaps if you use a computer to do the books then you could claim back that, but you would only get a fraction of the cost - ie that relevant to doing your books, and not the whole cost of the computer.
Author:  TDO [ Wed May 17, 2006 8:22 pm ]
Post subject:  Re: Receipts
peebee wrote:
LeonElport wrote:
I hear that if you have an accountant, they can tell you how you can save money on household items by claiming the vat back off them and classing them as use for the taxiing? Anyone have a list or anything ?


As you work from home, you can also get a proportion of your household running costs ofset against tax, as well as work clothing, and any cleaning products that may be used.


I suspect the average driver would have a problem persuading the taxman that they're working from home?
Author:  peebee [ Wed May 17, 2006 8:37 pm ]
Post subject:  Re: Receipts
TDO wrote:
peebee wrote:
LeonElport wrote:
I hear that if you have an accountant, they can tell you how you can save money on household items by claiming the vat back off them and classing them as use for the taxiing? Anyone have a list or anything ?


As you work from home, you can also get a proportion of your household running costs ofset against tax, as well as work clothing, and any cleaning products that may be used.


I suspect the average driver would have a problem persuading the taxman that they're working from home?



why not, he has to do his accounts at home does he not, and he doesn't have a base to go to, as a sales rep (I din't bother as it mean't self assesment) but I was entitled to claim business phone calls (coulda claimed line rental of Phone and BB too but co paid for those) and you can add up household expenses, heating lighting mrtgage etc, and claim a 5th if you have 5 public rooms (exc bedrooms and bathrooms) 1/4 if you have 4 etc, or summat like that, this amount can then be offset against tax. Worth looking into?
Author:  peebee [ Wed May 17, 2006 8:37 pm ]
Post subject:  Re: Receipts
TDO wrote:
peebee wrote:
LeonElport wrote:
I hear that if you have an accountant, they can tell you how you can save money on household items by claiming the vat back off them and classing them as use for the taxiing? Anyone have a list or anything ?


As you work from home, you can also get a proportion of your household running costs ofset against tax, as well as work clothing, and any cleaning products that may be used.


I suspect the average driver would have a problem persuading the taxman that they're working from home?



why not, he has to do his accounts at home does he not, and he doesn't have a base to go to, as a sales rep (I din't bother as it mean't self assesment) but I was entitled to claim business phone calls (coulda claimed line rental of Phone and BB too but co paid for those) and you can add up household expenses, heating lighting mrtgage etc, and claim a 5th if you have 5 public rooms (exc bedrooms and bathrooms) 1/4 if you have 4 etc, or summat like that, this amount can then be offset against tax. Worth looking into?
Author:  smiffyz (geoff) [ Wed May 17, 2006 9:02 pm ]
Post subject: 
Be very careful about claiming household stuff, The taxman has a long memory.
If you were to go under they could have a claim against assets.
Author:  TDO [ Thu May 18, 2006 6:09 pm ]
Post subject:  Re: Receipts
peebee wrote:
why not, he has to do his accounts at home does he not....
Quote:

Most drivers I know do their books in the car :lol:

That's assuming they keep books :roll:

Quote:
.....and he doesn't have a base to go to, as a sales rep (I din't bother as it mean't self assesment) but I was entitled to claim business phone calls (coulda claimed line rental of Phone and BB too but co paid for those) and you can add up household expenses, heating lighting mrtgage etc, and claim a 5th if you have 5 public rooms (exc bedrooms and bathrooms) 1/4 if you have 4 etc, or summat like that, this amount can then be offset against tax. Worth looking into


If expenditure is specifically related to doing the job then I think you're correct, but I think it would need more than just a room that's used a few hours every year to do the books then even if it was allowable expenditure it would hardly be worth claiming.

I think the taxman would be looking at some kind of dedicated room that was used as a taxi office or suchlike, and might be looking for things like planning permission.

If a driver doesn't have a base to go to and goes home then he's...err...gone home!!!

But as smiffyz alludes, for the average driver it would probably be more hassle than it's worth.
Author:  TDO [ Thu May 18, 2006 6:12 pm ]
Post subject: 
I think the essetial point is that there's a difference between 'working from home' and having your taxi at the front door, which basically means that you've gone home while not working :)
Author:  captain cab [ Thu May 18, 2006 6:13 pm ]
Post subject: 
Claiming VAT back?

there must be some rich cab drivers out there

Captain Cab
Author:  TDO [ Thu May 18, 2006 6:17 pm ]
Post subject: 
Yes, that's a good point - the original post presupposed that the driver would be VAT-registered, which isn't a route that the average driver wants to go down, because he would be accountable for VAT on all fares collected.

But, in any case, the principle as regards deducting household and other expenses for income tax purposes would still be relevant, and that's basically what I was getting at above, but I still think it's a non-starter.
Author:  captain cab [ Thu May 18, 2006 6:19 pm ]
Post subject: 
An old cab driving freind of mine used to pay his wife a set amount per week to do his books etc

I suppose that one works

Captain Cab
Author:  TDO [ Thu May 18, 2006 6:22 pm ]
Post subject: 
Yes, but again, how long does it take to keep a set of taxi books for a week?

Being realisitic, it would hardly be worth claiming unless there was a fleet of cars or an office of some kind.

That's assuming that the taxman doesn't thing it reasonable for your wife to charge £50 per week to do the books.
Author:  peebee [ Thu May 18, 2006 6:30 pm ]
Post subject: 
captain cab wrote:
An old cab driving freind of mine used to pay his wife a set amount per week to do his books etc

I suppose that one works

Captain Cab


sensible to pay a non working spouse up to their tax free earnings, that way you save tax on that portion, as for dedicated office, it doesn't have to be, if you do a proportion of your work from home, preparing accounts, washing/hoovering car, all associated paparework, then you are entitled to claim some tax back from household expenses.
of course as to wether it's worth the hassle, but if your claiming for uniforms, running costs, then why not?
Author:  LeonElport [ Mon May 29, 2006 9:19 am ]
Post subject: 
With the likes of petrol receipts and stuff you buy for your car, do the receipts have to display the ammount of VAT paid on them, as i have a few receipts that only display the total cost of product ?
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