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| Budget 2011 http://www.taxi-driver.co.uk/phpBB2/viewtopic.php?f=2&t=16432 |
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| Author: | Sussex [ Wed Mar 23, 2011 7:19 pm ] |
| Post subject: | Budget 2011 |
Tow things that have slightly miffed me about this, in relation to our trade. 1. Ending of employer's tax relief for late night taxis. 2. Increase to 45p a mile for the voluntary passenger scams. |
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| Author: | wannabeeahack [ Wed Mar 23, 2011 8:09 pm ] |
| Post subject: | Re: Budget 2011 |
Sussex wrote: Tow things that have slightly miffed me about this, in relation to our trade.
1. Ending of employer's tax relief for late night taxis. 2. Increase to 45p a mile for the voluntary passenger scams. ref 2) the 45p is for use when calculating taxation where a mileage allowance is used as against running costs, i.e. i do 1000 miles per week, hence i can claim £450 worth of allowance instead of claiming all the fuel/insurance/repairs/etc. Or at least thats how it was explained to me |
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| Author: | Brummie Cabbie [ Wed Mar 23, 2011 8:12 pm ] |
| Post subject: | Re: Budget 2011 |
wannabeeahack wrote: Sussex wrote: Tow things that have slightly miffed me about this, in relation to our trade. 1. Ending of employer's tax relief for late night taxis. 2. Increase to 45p a mile for the voluntary passenger scams. ref 2) the 45p is for use when calculating taxation where a mileage allowance is used as against running costs, i.e. i do 1000 miles per week, hence i can claim £450 worth of allowance instead of claiming all the fuel/insurance/repairs/etc. Or at least thats how it was explained to me I wonder if that is legal? It would do me with a new motor, but I doubt if the taxman would swallow that!! |
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| Author: | wannabeeahack [ Wed Mar 23, 2011 9:46 pm ] |
| Post subject: | Re: Budget 2011 |
Brummie Cabbie wrote: wannabeeahack wrote: Sussex wrote: Tow things that have slightly miffed me about this, in relation to our trade. 1. Ending of employer's tax relief for late night taxis. 2. Increase to 45p a mile for the voluntary passenger scams. ref 2) the 45p is for use when calculating taxation where a mileage allowance is used as against running costs, i.e. i do 1000 miles per week, hence i can claim £450 worth of allowance instead of claiming all the fuel/insurance/repairs/etc. Or at least thats how it was explained to me I wonder if that is legal? It would do me with a new motor, but I doubt if the taxman would swallow that!! its 100% legal ask your money-juggler.... Quote: Motoring expenses You can deduct the cost of using your car for business purposes. There are two ways of working out how much you can deduct: a fixed rate for each mile travelled on business, using our fixed mileage rates the actual expenses, worked out using detailed records of business and private mileage to apportion your recorded expenditure Quote: Use of mileage rates to calculate motor expenses
You may calculate your motor expenses using a fixed rate for each business mile, provided that: • the rate used does not exceed the appropriate Approved Mileage Allowance Payments (AMAPs) mileage rate for the vehicle at the time it is used. We publish these rates annually • the annual turnover of the business at the time the vehicle is acquired does not exceed the VAT registration threshold (currently £68,000), and • no other motoring expenses (other than interest on a loan used to purchase the vehicle) are claimed and no capital allowances are claimed on the vehicle (since AMAPs rates already contain an element to allow for depreciation), and • such a basis is applied consistently from year to year so that any change to or from an ‘actual’ basis (including one required by a change in turnover relative to the VAT registration threshold) takes place only when one vehicle is replaced by another. The VAT registration threshold is used here purely as a convenient limit whose real value is regularly reviewed; this practice has no application to VAT accounting and does not affect existing VAT rules and practices. This practice applies to cars, vans, motorcycles and bicycles. The AMAPs mileage rates vary between vehicles. HS222 2010 The amounts to use are: • car or van 40 pence a mile for the first 10,000 miles 25 pence a mile thereafter • motorcycle 24 pence a mile • cycle 20 pence a mile. If you have existing arrangements for the use of mileage rates other than those set out in this helpsheet, we will expect that on the next change of vehicle, these arrangements are replaced either by claims to actual expenses or (where the conditions in this helpsheet are satisfied) by claims in accordance with the practice set out in this helpsheet. Whatever your business and however you work out your motoring expenses, you must keep adequate records to back up your tax return. For more information please phone the SA Helpline on 0845 9000 444. |
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| Author: | thelodger [ Wed Mar 23, 2011 10:41 pm ] |
| Post subject: | |
Its interesting that the Government accept that it cost close to 45p per mile traveled, but still want taxi's to charge at £1 per mile one way..... so 50p per mile round trip!!!! See most school and hospital contracts for details.... |
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| Author: | wannabeeahack [ Wed Mar 23, 2011 10:44 pm ] |
| Post subject: | |
thelodger wrote: Its interesting that the Government accept that it cost close to 45p per mile traveled, but still want taxi's to charge at £1 per mile one way..... so 50p per mile round trip!!!! See most school and hospital contracts for details....
technically speaking its central goverment who set the budget but local goverment who handle the school contracts, and its local t*** taxi firms who beat thier own prices down....blame them |
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| Author: | GBC [ Thu Mar 24, 2011 5:03 am ] |
| Post subject: | |
And a penny of fuel. Whoopee fecking doo. Most of the garages around here put their prices up by a penny two days ago. Next week they'll do the same. The week after that they'll do the same. The week af...... |
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| Author: | grandad [ Thu Mar 24, 2011 7:05 am ] |
| Post subject: | |
GBC wrote: And a penny of fuel.
Whoopee fecking doo. Most of the garages around here put their prices up by a penny two days ago. Next week they'll do the same. The week after that they'll do the same. The week af...... And cancelling the last Governments 6p a litre rise next week. |
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| Author: | wannabeeahack [ Thu Mar 24, 2011 11:41 am ] |
| Post subject: | |
for those who keep proper accounts/declare it all/are vat regd, pay the highes price you can find, get your profits down, pay less tax/claim more WTC....simples innit those who take only cash and declare only half...........STFU |
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| Author: | grandad [ Thu Mar 24, 2011 11:45 am ] |
| Post subject: | Re: Budget 2011 |
wannabeeahack wrote: Brummie Cabbie wrote: wannabeeahack wrote: Sussex wrote: Tow things that have slightly miffed me about this, in relation to our trade. 1. Ending of employer's tax relief for late night taxis. 2. Increase to 45p a mile for the voluntary passenger scams. ref 2) the 45p is for use when calculating taxation where a mileage allowance is used as against running costs, i.e. i do 1000 miles per week, hence i can claim £450 worth of allowance instead of claiming all the fuel/insurance/repairs/etc. Or at least thats how it was explained to me I wonder if that is legal? It would do me with a new motor, but I doubt if the taxman would swallow that!! its 100% legal ask your money-juggler.... Quote: Motoring expenses You can deduct the cost of using your car for business purposes. There are two ways of working out how much you can deduct: a fixed rate for each mile travelled on business, using our fixed mileage rates the actual expenses, worked out using detailed records of business and private mileage to apportion your recorded expenditure Quote: Use of mileage rates to calculate motor expenses You may calculate your motor expenses using a fixed rate for each business mile, provided that: • the rate used does not exceed the appropriate Approved Mileage Allowance Payments (AMAPs) mileage rate for the vehicle at the time it is used. We publish these rates annually • the annual turnover of the business at the time the vehicle is acquired does not exceed the VAT registration threshold (currently £68,000), and • no other motoring expenses (other than interest on a loan used to purchase the vehicle) are claimed and no capital allowances are claimed on the vehicle (since AMAPs rates already contain an element to allow for depreciation), and • such a basis is applied consistently from year to year so that any change to or from an ‘actual’ basis (including one required by a change in turnover relative to the VAT registration threshold) takes place only when one vehicle is replaced by another. The VAT registration threshold is used here purely as a convenient limit whose real value is regularly reviewed; this practice has no application to VAT accounting and does not affect existing VAT rules and practices. This practice applies to cars, vans, motorcycles and bicycles. The AMAPs mileage rates vary between vehicles. HS222 2010 The amounts to use are: • car or van 40 pence a mile for the first 10,000 miles 25 pence a mile thereafter • motorcycle 24 pence a mile • cycle 20 pence a mile. If you have existing arrangements for the use of mileage rates other than those set out in this helpsheet, we will expect that on the next change of vehicle, these arrangements are replaced either by claims to actual expenses or (where the conditions in this helpsheet are satisfied) by claims in accordance with the practice set out in this helpsheet. Whatever your business and however you work out your motoring expenses, you must keep adequate records to back up your tax return. For more information please phone the SA Helpline on 0845 9000 444. Isn't this for employees? If so then you would need to be a limited company to claim. |
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| Author: | Nidge [ Thu Mar 24, 2011 12:07 pm ] |
| Post subject: | |
1p off a litre of fuel last night, next week 6p on a litre. |
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| Author: | wannabeeahack [ Thu Mar 24, 2011 12:56 pm ] |
| Post subject: | Re: Budget 2011 |
grandad wrote: wannabeeahack wrote: Brummie Cabbie wrote: wannabeeahack wrote: Sussex wrote: Tow things that have slightly miffed me about this, in relation to our trade. 1. Ending of employer's tax relief for late night taxis. 2. Increase to 45p a mile for the voluntary passenger scams. ref 2) the 45p is for use when calculating taxation where a mileage allowance is used as against running costs, i.e. i do 1000 miles per week, hence i can claim £450 worth of allowance instead of claiming all the fuel/insurance/repairs/etc. Or at least thats how it was explained to me I wonder if that is legal? It would do me with a new motor, but I doubt if the taxman would swallow that!! its 100% legal ask your money-juggler.... Quote: Motoring expenses You can deduct the cost of using your car for business purposes. There are two ways of working out how much you can deduct: a fixed rate for each mile travelled on business, using our fixed mileage rates the actual expenses, worked out using detailed records of business and private mileage to apportion your recorded expenditure Quote: Use of mileage rates to calculate motor expenses You may calculate your motor expenses using a fixed rate for each business mile, provided that: • the rate used does not exceed the appropriate Approved Mileage Allowance Payments (AMAPs) mileage rate for the vehicle at the time it is used. We publish these rates annually • the annual turnover of the business at the time the vehicle is acquired does not exceed the VAT registration threshold (currently £68,000), and • no other motoring expenses (other than interest on a loan used to purchase the vehicle) are claimed and no capital allowances are claimed on the vehicle (since AMAPs rates already contain an element to allow for depreciation), and • such a basis is applied consistently from year to year so that any change to or from an ‘actual’ basis (including one required by a change in turnover relative to the VAT registration threshold) takes place only when one vehicle is replaced by another. The VAT registration threshold is used here purely as a convenient limit whose real value is regularly reviewed; this practice has no application to VAT accounting and does not affect existing VAT rules and practices. This practice applies to cars, vans, motorcycles and bicycles. The AMAPs mileage rates vary between vehicles. HS222 2010 The amounts to use are: • car or van 40 pence a mile for the first 10,000 miles 25 pence a mile thereafter • motorcycle 24 pence a mile • cycle 20 pence a mile. If you have existing arrangements for the use of mileage rates other than those set out in this helpsheet, we will expect that on the next change of vehicle, these arrangements are replaced either by claims to actual expenses or (where the conditions in this helpsheet are satisfied) by claims in accordance with the practice set out in this helpsheet. Whatever your business and however you work out your motoring expenses, you must keep adequate records to back up your tax return. For more information please phone the SA Helpline on 0845 9000 444. Isn't this for employees? If so then you would need to be a limited company to claim. no |
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| Author: | wannabeeahack [ Thu Mar 24, 2011 1:03 pm ] |
| Post subject: | |
You can only use mileage allowances if your turnover is less than the mandatory vat registration limit (£68,000), mine IS but im registered. http://www.hmrc.gov.uk/incometax/relief-self-emp.htm |
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| Author: | grandad [ Thu Mar 24, 2011 1:09 pm ] |
| Post subject: | |
Midlander wrote: 1p off a litre of fuel last night, next week 6p on a litre.
As stated above the rise that was due next week has been suspended. |
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| Author: | wannabeeahack [ Thu Mar 24, 2011 2:04 pm ] |
| Post subject: | |
grandad wrote: Midlander wrote: 1p off a litre of fuel last night, next week 6p on a litre. As stated above the rise that was due next week has been suspended. LPG duty up, road tax up.... |
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