Uber Drivers – Avoid Trouble with the Taxman!
Due to the extra income available to earn from ‘being your own boss’ everyone with a decent car wants to join Uber! But you are of course obliged to comply with HMRC’s tax rules.
To avoid trouble with the taxman, right from the start register yourself online for self-assessment and Class 2 National Insurance.
Every year you need to declare your income to 5th April each year and file tax returns by the following 31st January.
Make sure to keep excellent records of your income and expenses.
You may prefer to trade as a limited company and any accountant can advise you of this and if your turnover exceeds a certain limit you will have to register for VAT — but what happens if you don’t do any of the above?
You may fall foul of HMRC who are currently trawling through the lists of all those working through Uber and checking whether you have declared your income and paid tax.
If you believe that you have not registered for tax in time and paid your tax due, please contact Lindsay to discuss this. She will be able to give you a rough idea over the phone of your tax obligations and liability and what might happen if you fail to declare it. There are simple ways of making a voluntary disclosure before HMRC write to you and start a full investigation.
Simply give Lindsay a call on 07879 464 577 and she will help and a friendly chat!
