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Compared to "The Knowledge" recording Income and Expenses for a Taxi Driver is frankly easy.

Income is either Cash Takings or Cash Takings augmented by Account Work. Cash Takings should be recorded daily whilst Account Work is paid direct to your bank account with fully detailed schedules provided.

But what of expenses?

A taxi driver will incur some or all of the following :-

Fuel, Annual Overhaul, Repairs and Services, Taxi Rental, Road Tax, Insurance, Licences, Terminal Rental, Circuit Charges, Cleaning and Valeting, Airport Parking, Parking Charges Generally, Telephone and Communication Costs, Stationary, Trade Subscriptions, Loan or HP Interest, Bank Charges, Accountancy Fees

Most of these costs are incurred in cash and should be recorded daily and for any items paid by cheque then you have a cheque book stub entry as well as a bank statement and an invoice to refer too.

As practicing accountants for many years we recognise that accounts and tax returns for taxi drivers is not "rocket science".

We therefore have a special charge for all taxi drivers of £300 +VAT.

We offer a simple insurance policy covering the cost of accountants fees in a tax investigation case.