uber Or Taxi Driver? GoSimpleTax Makes Your Tax Duties Clear
The freedom of an Uber or taxi driver has one setback: the tax return. You’ll need to figure out the correct calculations and what vehicle-related expenses you can claim, as well as submit the Self Assessment to HMRC. How can you ensure you’re paying exactly what you owe, and getting all the relief you’re entitled to?
GoSimpleTax makes this easy. It can be used to:
- Prompt you on deadlines
- Offer tax-saving suggestions
- Quickly log expenses
- Track your earnings
- Flag mistakes before you incur a fine
- Sync your data with the Uber Partner feature
Our software makes the user journey for Uber and taxi drivers simple. You’ll be finished with your Self Assessment tax return in no time, so you can securely submit it to HMRC before the deadline.
With GoSimpleTax by your side, you can forget the tax burden.
How GoSimpleTax Can Help You Register As Self-Employed
Thinking of working for yourself? GoSimpleTax have all the resources you need to leave the rat race and register with HMRC.
You’ll be classed as self-employed if your gross trading income exceeds the tax-free trading allowance of £1,000 – and all other income over £2,500. If you don’t register within three months of setting up your business, you may be fined up to £100.
But don’t worry – to register as self-employed, all you need to do is click here or fill out a form and send it to HMRC.
Along with all the perks that come from being self-employed, there are certain responsibilities too. You’ll need to take charge of your tax return each year in the form of a taxi driver Self Assessment, for example.
If you’re new to declaring Income Tax for taxi drivers or filing Self Assessments, our software walks you through the entire process. With complete spreadsheet and PDF compatibility, we’re able to tailor our service to you.
Allowable Expenses For Self-Employed Uber Drivers/Taxi Drivers
For Uber drivers, your UK tax return is no different than an individual running their own business. You’ll need to tell HMRC any taxi driver’s expenses you incur as there are plenty of opportunities to claim certain expenditure back.
GoSimpleTax can help reduce your tax liability on a UK Uber drivers tax return by identifying allowable expenses, including:
Mileage – Record your mileage on our software, allowing you to claim for the distance you travel while working. However, if you choose to claim for mileage, you can’t claim for either of the below.
Car lease repayments – Our software suggests how you can claim the monthly cost of any car lease against tax. In addition, by choosing to lease your vehicle, GoSimpleTax can support you in claiming for servicing and insurance too.
New car purchase – Not only can we help you claim back car lease payments, but if you purchase a car for the purpose of taxi driving, you’re also entitled to tax relief. Again, this option allows you to claim for servicing and insurance.
At GoSimpleTax, we can assess your situation and recommend a solution that best suits you. Our service doesn’t only identify the options available, but presents a clear overview of what will support you best in your self-employment too.
Take a look at our in-depth guide to tax for Uber drivers guide to tax for Uber drivers for further advice.
Why Uber And Taxi Drivers Use GoSimpleTax
Self-employment is only ever enjoyable if you can focus on what you love. With GoSimpleTax, you can.
Taxi drivers are expected to handle their accounts in the same way as a business owner. Therefore, the only time they can manage their expenses for the purposes of taxi driver Self Assessments is when they aren’t earning.
We enable you to reduce the time spent managing your finances and choosing from suggested allowable expenses which make the most fiscal sense. You can even log your outgoings directly on our app (available on iOS and Android), giving you a real-time overview of your earnings wherever you are.
All UK Uber drivers that need to file a tax return are conscious of the fact that any HMRC penalty represents a loss of earnings. That’s why drivers choose to rely on a software solution like GoSimpleTax to limit the risk of fines, rather than manually log expenses and submit their Self Assessments.