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Hackney taxi driver

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  • 16-01-2021 4:10pm
    #1
    landlord2020
    Registered Users Posts: 35 ✭


    As a full time hackney taxi driver what costs are you allowed to claim ?



    Is the cost of buying a new car ( VAT or other ) reduced ?


    Do you become a sole trader or what way are you taxed ?


    thanks in advance


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    #2
    vandriver
    Registered Users Posts: 3,460 ✭✭✭vandriver


    landlord2020 wrote: »
    As a full time hackney taxi driver what costs are you allowed to claim ?



    Is the cost of buying a new car ( VAT or other ) reduced ?


    Do you become a sole trader or what way are you taxed ?


    thanks in advance

    Costs associated with the car,like maintenance insurance tax NCT suitability diesel.
    Also you can claim a capital allowance to cover the depreciation of your car.Also any interest on a car loan.
    Other things might be phone cost,advertising,commission etc.
    VAT doesn't come into your accounts.
    Yes,you become a self employed sole trader.


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    #3
    vandriver
    Registered Users Posts: 3,460 ✭✭✭vandriver


    What way are you taxed?
    You register as self employed with Ros.
    Every November you pay preliminary tax(sort of a deposit on this year's taxes) and settle last year's taxes.
    With an accountant,this process is fairly straightforward.


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