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| re another newbie seeking advice http://www.taxi-driver.co.uk/phpBB2/viewtopic.php?f=1&t=3865 |
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| Author: | haitch [ Sat Jun 17, 2006 11:52 pm ] |
| Post subject: | re another newbie seeking advice |
I forgot to say i will be hiring a company car, the first (smaller) company for car and radio will cost 245/week with the second (large) the cut is 60% to them 40% to me but they do all maintenance, pay for fuel so the 40% totally mine |
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| Author: | chipper [ Sun Jun 18, 2006 5:29 am ] |
| Post subject: | Re: re another newbie seeking advice |
haitch wrote: I forgot to say i will be hiring a company car, the first (smaller) company for car and radio will cost 245/week with the second (large) the cut is 60% to them 40% to me but they do all maintenance, pay for fuel so the 40% totally mine
sounds a bit like........ 
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| Author: | TDO [ Sun Jun 18, 2006 2:41 pm ] |
| Post subject: | |
I would try one of them, and if it doesn't suit then try the other. Sorry, you probably know more about these firms than anyone on here 
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| Author: | TDO [ Sun Jun 18, 2006 2:42 pm ] |
| Post subject: | |
Mind you, the commission-based firm is probably a bit better if you don't work too many hours or need to take time off etc, since you won't be lumbered with the rent. But I daresay that if you want to work mega-hours you might be better off with the rental. |
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| Author: | Sussex [ Sun Jun 18, 2006 7:44 pm ] |
| Post subject: | Re: re another newbie seeking advice |
haitch wrote: I forgot to say i will be hiring a company car, the first (smaller) company for car and radio will cost 245/week with the second (large) the cut is 60% to them 40% to me but they do all maintenance, pay for fuel so the 40% totally mine
That's ok for starters, but if you want to stay in this trade, and earn decent money, then that's not a long term option. But good luck anyway. 
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| Author: | Tom Thumb [ Sun Jun 18, 2006 8:37 pm ] |
| Post subject: | |
can't see how you, if you are simply taking 40% commission, and having no financial input, how you wouldn't be an employee. Being an employee would mean VAT on the whole of every fare. It would also mean the office paying 11% NI on your 40%. My interpretation was that the tax man would look for you to be purchasing the fuel at a bare minimum to justify being self employed. |
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| Author: | TDO [ Sun Jun 18, 2006 11:53 pm ] |
| Post subject: | |
The VAT might still not be relevant if a single car was owned by someone and they hired a driver at 40%, since the turover would probably still be below the threshold (65K?). |
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