Claiming the right expenses reduces the profit you pay tax on. Here are the most common expenses taxi and private hire drivers can record, and where to log them in CabTax.
If you use the actual-costs method, you can claim fuel, insurance, repairs, servicing and MOT. Log these under the relevant expense categories.
If you use the simplified mileage method, claim 55p per business mile (25p after 10,000). You cannot claim both fuel costs and mileage for the same vehicle.
Taxi/PHV licence fees, council licensing, DBS checks and medicals for your licence are claimable. CabTax has a dedicated licence fee category.
Car washing and valeting is claimable. Parking and tolls while working are claimable, but parking fines are never claimable.
The business share of your phone and data is claimable, as are accountancy and bookkeeping fees.
Fines, ordinary clothing, everyday meals on shift, and the personal share of any mixed-use cost are not claimable.
Join the waiting list and we'll email you the moment it's live — log income, expenses and mileage, and see your tax estimate as you go.
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