7 Tax tips for taxi driver in the UK скачать в хорошем качестве

7 Tax tips for taxi driver in the UK

You keep the UK moving — but who’s keeping your money on track?” If you're a self-employed Uber driver, courier, or HGV operator, this video is for you. Let’s break down 7 must-know tips every UK driver needs to save money, avoid HMRC trouble, and keep more of your income! [Tip 1 – Do You Need an Accountant? Yes — if you’re self-employed and earning more than £1,000 per year from driving, you should register with HMRC and probably get an accountant. They’ll help you track income, claim expenses, and avoid penalties. [Tip 2 – Claim These Driver-Specific Expenses Drivers can claim for: Fuel Vehicle insurance Repairs & servicing Mobile use for work Sat navs and dashcams Even uniforms and accountant fees are tax-deductible! [Tip 3 – Sole Trader or Limited Company? Start as a sole trader if you're earning under £40K. It's simple, low-cost, and quick. Go limited if you’re earning £45K+ — it can reduce your tax bill and protect your personal assets. [Tip 4 – Use Mileage or Actual Fuel Method You can either: Track your business miles and claim 45p per mile (up to 10,000 miles), or Log actual fuel costs and business use. An accountant can help you choose the best method. [Tip 5 – Watch Out for These Mistakes Avoid these costly driver errors: Filing your tax return late (hello £100 fine) Mixing personal and business expenses Missing VAT registration if you earn over £85K Forgetting small daily costs like parking or car washes [Tip 6 – Use Accounting Software Ditch the spreadsheet. Use tools like FreeAgent, QuickBooks, or Xero to track mileage, upload receipts, and manage taxes — all in one place. [Tip 7 – Yes, Accountant Fees Are Tax-Deductible You can claim back what you pay your accountant as a business expense. So if you're paying £50/month — that’s £600 off your taxable income! [REAL-LIFE BONUS One courier driver saved £2,100 after hiring a specialist accountant who spotted missed deductions. That’s real money back in your pocket! So drivers — don’t wait for HMRC to knock. Get your finances sorted, track those miles, and let a pro handle the paperwork. 💬 Got questions? Drop them in the comments! 🔔 Subscribe for more UK driver tips and tax advice!