galleryman
Registered User
- Messages
- 168
Car needs to be serviced more than normal.
Yes there is no VAT on taxi fares but all expenses incurred in running the taxi (fuel inc VAT, repairs, insurance, licence fees, NCT etc.) would be deductable in calculating your income tax...As far as I know, Taxi drivers dont charge VAT so as a result, nothing can be written off for tax reasons, I may be wrong but ...
I would have thought that the 'punitive vehicle registration tax VRT' is actually part of the 'cost of the vehicle' but I'm not sure...Can the cost of the vehicle or the punitive vehicle registration tax VRT be written off or deducted in any way ?
You still need the SPSVD licence (€15 + three month wait + test). Then you need a car (around €5k?), the suitability test (€90), a hackney licence (€1000 new) and insurance (obviously varies, say €3-5k). Also, I don't think you get away with paying taxi road tax (flat rate of about €88, regular cars would be at least €200 unless you've very little CO2!). Total around €10,000 or more.If someone was thinking of getting into the business, would they not be better off working part-time for a hackney cab company for a while ? No taxi plates or meters required, so I presume the startup costs are a lot less than getting a taxi, or am I being naive ?
A friend of mine who drives a taxi was telling me he makes €1000 or more a week last night but i thought he was having me on. He told me that he cant say it publicly because the other drivers dont want the public knowing that they are earning quite a good living. They want to cut off the trade to new entrants.
So i did a bit of digging today. I was just reading about this on boards.ie. There are some taxi drivers over there who will freely admit what they earn.
Here is one example.
http://www.boards.ie/vbulletin/showthread.php?t=2055572252&page=3
Its really upsetting some other drivers. But he has offered to back himself up by posting his accounts if one of them will post theirs to prove they arent earning good money. None of them will. Make of that what you will.
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