Accountants For Taxi Drivers

As a taxi driver, you’re probably already working long, strenuous hours. What doesn’t help is worrying about your taxes and finding the time to manage your accounts. Hiring specialist accountants for taxi drivers is the way forward and will give you peace of mind knowing you remain tax compliant all year round.

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Being self-employed, you are responsible for registering with HMRC and going on to manage your taxes and expenses. Our accountants understand your business and can help you keep on top of your business expenses, accounts, and self assessment tax return filings.

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Services We Offer For Taxi Drivers

We offer a wide range of accountancy services for taxi drivers, which we have outlined below.

Year End Accounts For Taxi Drivers

At the end of every tax year, you’re required to file your year end accounts and pay tax liabilities. Our accountants can keep your year end books on track, ensuring you won’t attract any penalties from HMRC.

Personal tax returns

We can help you plan and process your personal tax return each and every tax year as part of our usual accountancy service.

Self Assessment Return For Taxi Driver

Our team of accountants for taxi drivers is on hand to submit your self assessment returns on your behalf. Our chartered accountants can help you avoid the strict penalties for late submissions of self assessment returns.

VAT Guidance For Taxis

If you’re earning a taxable income of £85,000 or more, you must register for VAT. While that seems fairly straightforward, there are a few ifs and buts to be aware of, and processing a VAT return is another story. Luckily, our accountants offer full VAT support and guidance to our tax driver clients.

Insurance for Taxis & Private Hire Drivers

Public liability insurance is required for all taxi and private hire drivers. We can help you set up your public liability insurance, ensuring all requirements are adhered to for full compliance.

Claiming Expenses For Private Hire

Our accountants can help you claim business expenses in order to reduce your income tax bill. As a taxi driver, you are well within your rights to claim expenses from the cost of your vehicle (if the vehicle is mainly used for work) to costs associated with fueling and servicing the vehicle. The road tax, MOT, and insurance of the vehicle can also be claimed. Simply record your business expenses in whatever accountancy software you’ve chosen, and we’ll take care of the rest.

Tax Planning For Taxi Drivers

The accountants at TaxBite provide tax solutions to self-employed taxi drivers wishing to properly plan out their tax position.

Accounting Software For Taxi Drivers

Say goodbye to paper records, as from April 2026, Making Tax Digital (MTD) legislation will come into effect. This means tax returns, accounts, and the like must be processed digitally using an approved software application. Our accountants are fully up-to-speed with the latest digital accounting software and are available to help you make the digital move well in advance of April 2026.

Below, we discuss the most popular approved accounting software options available and the main benefits of each to self-employed taxi drivers. Please note our accountants are also trained to use other popular accounting software solutions.

FreeAgent Accounting Software

You can upload expenses and accept digital payments using FreeAgent accounting software. As a taxi driver, being able to accept digital payments that are automatically added to your accounts is a valuable way of building up your profit and loss account, saving a lot of time and resources in the future.

If you’re interested in keeping costs down, you can use FreeAgent for free if you bank with NatWest, RBS, Ulster Bank, or Mettle.

QuickBooks Accounting Software

QuickBooks may be a good solution for you if you require technical support. Their award-winning support team is tech-savvy and immensely patient. They also provide straightforward guides for all users.

QuickBooks accounting software allows you to manage expenses, taxes, and Payroll, among other great features.

FreshBooks Accounting Software

FreshBooks is built for business owners and accountants, but that doesn’t mean it can’t cater to Taxi drivers. You can create customized invoices for long-term clients, which is great if you work with repeat customers. Not to mention, your accountant will love using it, too.

Xero Accounting Software

Xero accounting software offers users the functionality to accept online payments, keep track of expenses, and process invoices, as well as a whole host of other capabilities. As one of the world’s most well-known accountancy web-based application software, you can be sure Xero offers to support customers at a high standard, meaning you won’t need to wait months for a response.

Why TaxBite

From record keeping and income tax returns to financial affairs, our accountancy service covers many aspects of running a business or becoming self-employed for tax purposes. We’ve helped taxi drivers manage their tax records, pay their income tax, and claim certain tax reliefs, all with minimal fees.

TaxBite has clients all around the UK, including self-employed tax drivers, limited companies, and sole traders. If you are yet to decipher your tax position, the chartered accountants here at TaxBite are well-placed to assist you in making the correct choice as per your current position.

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