[und]

Hi,

Just wondering if you can get the full 100% allowance for a new Prius as a sole trader, and thereby avoid paying any tax for that year. Also, what happens if you later sell the car?


Thanks in advance,
und

 

[London UberExec Driver]

If its leased, I understand the entire monthly cost could be offset, as the car is usually handed back at the end of the term.

Otherwise, every year, an amount for depreciation is taken off, and when you sell the car, it is adjusted, if necessary to take the final figure into account.

Best to ask an accountant though.

 

[uberR]

If its the plug in version, or the entry level model with the 15" wheels you can claim the full 100% (i.e. the emission level has to fall below a certain level, I think same as that required for CC exemption). If you go on the HMRC website you can find all the info you need..

 

[davetherave]

Whats the deal with Uber and paying tax? Do uber give the taxman information on partners who work with them? Names etc or is it easy to duck?

 

[Hogster]

Whats the deal with Uber and paying tax? Do uber give the taxman information on partners who work with them? Names etc or is it easy to duck?

Yes they do give info on warnings to Inspector Hector at HMRC but like any self employed you can duck your tax responsibilities if you "foxtrot Oscar" to another country before 2 years are up

 

[davetherave]

I see, yeah was worried Hector asks for information, or information on how much has been paid to partners is passed over.

 

[Hogster]

I see, yeah was worried Hector asks for information, or information on how much has been paid to partners is passed over.

As from this month even old style ph firms that were cash only and used paper dockets previously for recording bookings, have had to adopt computerised booking systems.
How easy it is for old Hector to pay a visit and assess any driver's earnings for the tax year.

No more lumpy mattresses...

 

[davetherave]

As from this month even old style ph firms that were cash only and used paper dockets previously for recording bookings, have had to adopt computerised booking systems.
How easy it is for old Hector to pay a visit and assess any driver's earnings for the tax year.

No more lumpy mattresses...

Pain in the ass, even black cabs getting the brown end of the stick?

I guess if your self employed you can still fiddle with the strings and get old hector covering the expenses etc

Guess you just need to bung the old accountant mate a few quid to tidy it all up for you annually, or "foxtrot oscar" If you trotted with the foxes, how long till you can go back and carry on as normal?