UBER drivers – Get ready for HMRC

So you have now become an UBER driver.

Having successfully joined the organisation and whether you have transferred from another operator, or are new to the taxi industry having gained your Private Hire license,
you are all set to go out and hopefully earn some money.

The beauty of being involved with UBER is that you get paid directly into your nominated bank account.

So what do you do now?

You will then want to deduct the cost of every aspect of taxi driving, your license fee, motor running costs including fuel, repairs, insurance and road fund license, mobile phone,cleaning,parking and toll costs to name but a few.

Well one thing you will have to do at some stage is tell HMRC. You are always best advising them straight away in order that you do not fall foul of any penalties they may charge for late registration.

But there is another reason. This is really so that you can budget for any future tax or national insurance bill which is something that is easily put to one side and left until the last minute.

One thing is for sure you will need to record both your income and your expenses and this is where using Taximanager is the perfect solution for you.

We can provide a WEB based APP which you can easily access through logging on and simply record your income and expenses as you go along. This will give you an immediate profit and loss account which is vital, so that you are aware how well you are doing profit wise. We have even built in a calculator that will tell you roughly how much money you should be setting aside for any future tax liability and this can be adjusted to suit your circumstances, as to whether you are a full-time driver with no other job or like a lot of drivers at UBER  you are doing this on a part-time basis.

One of the greatest errors of self-employed individuals is that they leave their tax matters until the last minute. Many find themselves in a position where they have no idea what their tax bill is likely to be and it comes as a complete shock especially when looking at the delays from start up of self employment to the first date when your tax is payable.
Users at Taximanager never have this problem, and the added bonus is that the same profit figure is also used for HMRC tax credits and where applicable housing benefit applications when up-to-date profits are often requested. This is an ideal solution to your accounting needs, just access your account from any smart phone, tablet, PC to update your records anytime, and have your information securely saved in the cloud.

For those who use our PRO version they get full taxi driver accountancy back up, their tax return is also submitted to HMRC, and at the end of each tax year a copy of the accounts, receipt for the submission of the return, tax computation, and tax return are all sent to you which is an excellent unrivalled service.

Oh and I can hear you asking, how much does this cost. So how does £79 per year sound for our superb service.

Don’t hesitate, join hundreds of returning happy clients and sign up today.