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Is there a set fuel to earnings ratio?

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billywhite

Post subject: Is there a set fuel to earnings ratio?

Posted: Sat Mar 10, 2007 1:54 pm

Joined: Fri Mar 09, 2007 12:57 pm
Posts: 1

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.

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skippy41

Post subject:

Posted: Sat Mar 10, 2007 4:17 pm

Joined: Mon Mar 21, 2005 8:44 pm
Posts: 10591
Location: Scotland

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

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Sussex

Post subject: Re: Is there a set fuel to earnings ratio?

Posted: Sat Mar 10, 2007 6:07 pm

Joined: Wed Sep 03, 2003 7:30 pm
Posts: 57347
Location: 1066 Country

billywhite wrote:

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:

_________________
IDFIMH

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Darren63

Post subject:

Posted: Mon Mar 12, 2007 3:23 pm

Joined: Thu Mar 02, 2006 12:36 am
Posts: 550
Location: Plymouth

I'm lucky if I get 5-1.

7-1 I'd be over the moon.

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