If you are starting out as a taxi driver, a good way to begin is by contacting local taxi firms. A taxi firm will have lots of drivers working shifts for them on a self-employed basis. The firm will operate over a specific area and will already have a large customer base.
How much do self-employed taxi drivers earn UK?
Taxi drivers in the UK can earn upwards of £30,000 per year. Many of the UK’s cab drivers are self-employed, and so paid by the hour/day—meaning they’re free to work (and earn) as much as they like.
How much can Taxi Drivers earn UK?
| Average hourly earnings | Weekly hours required to earn £30,000 |
|---|---|
| £15.00 | 38 |
How do taxi drivers pay tax UK?
How do taxi drivers pay tax? To pay tax as a taxi driver, you’ll have to file a self-assessment tax return (for extra help on this, check out our dedicated self-assessment tax return guide). You’ll almost certainly do this online – in 2020, 96% of tax returns were submitted online.
How much do taxi drivers make a month UK?
The average taxi driver salary in the United Kingdom is £35,000 per year or £17.95 per hour. Entry level positions start at £26,000 per year while most experienced workers make up to £48,962 per year.
What expenses can I claim as a taxi driver UK?
You can claim allowable business expenses for:
- vehicle insurance.
- repairs and servicing.
- fuel.
- parking.
- hire charges.
- vehicle licence fees.
- breakdown cover.
- train, bus, air and taxi fares.
Is it worth being a self-employed taxi driver?
There are plenty more reasons that make it worth being a minicab or taxi driver. Here are some of the biggest benefits: Be your own boss: You are essentially self-employed, which gives you great flexibility. Choose your hours: You can set your own working hours, making it easier to earn money in your spare time.
Do taxi drivers pay for their own fuel?
With most taxi drivers being self-employed they will be expected to provide their own vehicle, fuel, and pay for other expenses such as toll road payments from their pocket.
What can I claim for as a self-employed taxi driver?
What expenses can a taxi driver claim?
- Fuel costs, whether for petrol, diesel or an electric vehicle.
- Maintenance, servicing, MOT and repairs to your vehicle.
- Cost for road tax.
- Washing or cleaning your taxi.
- Licence and registration or membership fees relating to your business.
Is being a taxi driver worth it UK?
Did you know that experienced private hire taxi drivers who work an average of 40 hours per week can expect to make around £30,000 per year? This is according to the National Careers Service. If you’re prepared to put in the work and be available during unsociable hours, you can see your profits reach new heights.
What can taxi drivers claim for?
Insurance and Road Tax. Repairs, Maintenance, Cleaning. Fuel Costs.
How do I become a private taxi driver UK?
You’ll need to:
- complete a driving skills assessment.
- have a full UK or EU driving licence, held for at least 12 months, or 3 years if working in London.
- pass background checks.
- pass a medical check.
- be over 18 but over 21 in some areas, including London.
Do taxi drivers pay tax?
The vast majority of taxi drivers are sole traders, which means they have to pay national insurance and income tax.
Are taxi drivers in demand?
Londoners waiting more than 40% longer for taxis than before the pandemic. L ondoners are waiting 40 per cent longer for taxis than they were before the pandemic, according to a new survey. It comes as a major shortage of drivers continues to cause problems for the industry.
Do taxi drivers have to declare tips?
Tips are taxable. According to HMRC, whether you’re a hairdresser, taxi driver, bartender or waiter, you’ll have to pay Income Tax on any tips you receive whilst at work. In some cases, you may even be required to make National Insurance contributions too.
Can I drive a taxi anywhere in the UK?
You cannot operate your vehicle as a taxi or as a private hire vehicle (PHV) until you get it licensed. The method you use to apply for a taxi vehicle licence will depend on whether you will be operating in London or outside.
Can I use any car for taxi?
Any vehicle that seats up to eight passengers and is available for hire with a driver requires a private hire vehicle (PHV) licence. It is the responsibility of the vehicle owner to apply for a licence. The private hire regulations have recently changed.
How much is a taxi Licence UK?
Taxis
| Licence type | Fee |
|---|---|
| Driver Licence (first application) three year licence | £254.00 (Made up of Non-refundable search fee £180 and Licence fee of £74). Online payment |
| Driver Licence (renewal) renewable 3 yearly | £254.00 (Made up of Non-refundable search fee £180 and Licence fee of £74). Online payment |
How many hours a day can a taxi driver work?
According to UK Government drivers’ hours regulations:
You may not drive for more than 10 hours a day. You must rest for at least 10 hours between 2 working days. If you have been driving continuously for 5 hours and 30 minutes, you must stop and rest for at least 30 minutes.
Is taxi driving good money?
Most put in a 40- to 50-hour week and earn around £23,000 after expenses. It’s not a cheap business to run.
Can taxi drivers be self-employed?
Answer for Taxi Drivers as Workers
No, all London taxi drivers are self-employed. Transport for London (TfL) is the regulatory body for taxi and private hire services in the Capital.
How do I pay tax as a self-employed taxi driver?
As a self-employed taxi driver, you’ll need to send your self-assessment tax return and pay your taxes by 31st January after the end of the tax year. So, for the 2020/2021 tax year, you can submit your tax return online between 6th April 2021 and midnight on 31st January 2022.