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Is there a set fuel to earnings ratio?
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Author:  billywhite [ Sat Mar 10, 2007 1:54 pm ]
Post subject:  Is there a set fuel to earnings ratio?
I am new to the trade and drive a petrol private hire vehicle and have been told by my accountant that the inland revenue set your fuel to earnings ratio at 7-1. Is this correct and if so i have got no chance in earning that amount.
Author:  skippy41 [ Sat Mar 10, 2007 4:17 pm ]
Post subject: 
Get your self a Skoda Octavia TDI then you will at 50 mpg.
Check out click this link
www.thetaxicentre.co.uk and they will deliver one to your door
Author:  Sussex [ Sat Mar 10, 2007 6:07 pm ]
Post subject:  Re: Is there a set fuel to earnings ratio?
billywhite wrote:
I am new to the trade and drive a petrol private hire vehicle and have been told by my accountant that the inland revenue set your fuel to earnings ratio at 7-1. Is this correct and if so i have got no chance in earning that amount.

I've always driven diesels and would be well pleased with that ratio. :wink:

But if you can prove that you live in a rural area with bundles of dead miles, or a firm that majors in one area so you will always return empty, then you should be ok.

Else use the wife's receipts. :wink:
Author:  Darren63 [ Mon Mar 12, 2007 3:23 pm ]
Post subject: 
I'm lucky if I get 5-1.

7-1 I'd be over the moon. :D
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