mini cab driving- how do istart

[Fish the Mod]

While training to be a driving instructor and working nights to pay the morgage, I am thinking of answering an ad from a well known mini cab company IN MY AREA. I have a decent four door car. I have the public carriage application form but before I shell out �300, what else do I do  like paying rent, tax and N.I

[Octavius]

You might need a tax advisor/accountant to advise you of the amounts.  You will have to pay a portion of your takings to the cab firm and set aside an amount every month so that at the end of the year you have accumulated enough to pay your annual tax bill.  Any money left over after these deductions is yours to spend on petrol (might be discounted through firm), rent, food etc.

[Mrs_Pegasus]

Check out the possibility with your insurance company!  The increase in premium may well put you off the idea!

[Personica]

Might be a better idea to try a minicab firm that rents you a car. Also, as you are self employed you need to keep records of ins and outs. Be carefull your outs match your ins or the taxman will ask questions. Example, it's no good declaring 100 miles of fares then trying to claim �60 in petrol for a car that does 30 per gallon! ;-) Very lucrative business cabbing if done right.