Taxi Driver Allowances
jenny3549
Registered Posts: 472 Dedicated contributor 🦉
Hi All,
I'm hoping someone can give me some general advice. An ex colleague of mine became a taxi driver in 2008 and has been enjoying himself immensely ever since. He is also now running another small upholstery business. We got talking about his SA and he asked me about claiming for the cost of his taxi. Typically I could only choose PTC or BTC as my one option at Technician and went for PTC. I think this would fall under business but don't have any books to check.
The taxi was bought outright in 2008 for approx £23000 and he has not so far used any allowance for it on his SA. Could anyone point me in the right direction to just give him a general idea?
Thanks in advance for your help.
Jenny
I'm hoping someone can give me some general advice. An ex colleague of mine became a taxi driver in 2008 and has been enjoying himself immensely ever since. He is also now running another small upholstery business. We got talking about his SA and he asked me about claiming for the cost of his taxi. Typically I could only choose PTC or BTC as my one option at Technician and went for PTC. I think this would fall under business but don't have any books to check.
The taxi was bought outright in 2008 for approx £23000 and he has not so far used any allowance for it on his SA. Could anyone point me in the right direction to just give him a general idea?
Thanks in advance for your help.
Jenny
0
Comments
-
capital allowances claim
Hi Jenny
As he (I assume from your post) purchased his taxi before 6th April 2009 he should be able to claim capital allowances on the cost to a maximum of £3,000pa (old rules). That will effectively reduce his tax liability for each year the taxi is in use. Have a look at this link - it may be of some help.
http://www.businesslink.gov.uk/bdotg/action/detail?itemId=1073789933&type=RESOURCES
Regards
Nick0 -
Thanks Nick - that's great.0
-
He could qualify for AIA or FYA if his vehicle is a qualifying hire car (e.g. hackney carriage, black cab or limousine..).0
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 12.5K For AAT students
- 325 NEW! Qualifications 2022
- 160 General Qualifications 2022 discussion
- 11 AAT Level 2 Certificate in Accounting
- 56 AAT Level 3 Diploma in Accounting
- 95 AAT Level 4 Diploma in Professional Accounting
- 8.8K For accounting professionals
- 23 coronavirus (Covid-19)
- 273 VAT
- 92 Software
- 274 Tax
- 138 Bookkeeping
- 7.2K General accounting discussion
- 202 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 345 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 582 Job postings
- 16 Who can benefit from AAT?
- 36 Where can AAT take me?
- 42 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 66 AAT membership