As a self employed HGV/Lorry driver, it is expected that you’ll work for different clients with varying needs and requirements. However, just like every other employed person, you also have to pay taxes appropriately. Because of the nature of your business, it may be challenging to sort out and make the appropriate calculations for taxes. After long hours planning, loading, unloading, taking inventory, and lots more, taking the time out to manage the finances.
It is crucial to fully understand the need to plan and take appropriate records for proper tax preparation. Combining this with your regular work duties can be challenging and draining, which might not make you perform optimally. This is especially true if you’re starting as an HGV driver while navigating the upsides and downsides of registering as a limited company.
At Reed Accounting, we have the skills and understand the unique requirements that HGV drivers have when managing accounts. Let us take it out of your hands and help you manage the accounting aspects while focusing on the driving.
HGV Driver Ltd Company Expenses
Our qualified expert accountants will be your guide through all of the various expenses you should include on a tax return to save money. Check below for some of the most common expenses that are associated with HGV drivers:
- LGV License: Costs related to the medical fees and passport photo for LGV license
- Specialist Clothing: This includes work gloves, shoes, etc.
- Uniform Tax Relief
- Digital Tachograph Drivers’ Card costs
- Tools: Vehicle maintenance and tools purchased for the maintenance
- Certificate of Professional Competence
- Meal Allowance: Since you have to work away from home, you can claim back meal costs depending on the scenario.
The above list does not cover all the possible expenses as there may be some exceptions in some cases. Our experts will have to examine other issues to see if you’re eligible for tax returns and help you note them down to save money. All you have to do is send us all of the paperwork related to the above expenses. It is essential to keep all the receipts and invoices for services, and you can even snap pictures as a backup.
Apart from this, we also prepare your tax returns documents after collating and help you submit them to HMRC at the appropriate time. Tax rules and regulations constantly change; staying aware can be exceptionally tiring and is not the best use of your time. Our experts are in tune with the newest laws that could affect HGV Drivers, and we will promptly inform you of any if need be.
We use the latest software in the industry to help you handle all your expenses and invoices in an organised manner. Our team also uses mobile-based banks to reduce paperwork and create a more effective system for managing your finances.
Why You Should Choose Us
- Experienced professionals with several years dealing with HGV Drivers
- A guiding hand to walk you through the process as we use a collaboration model
- Assistance in sorting out bills and expenses
- Set up simple accounting and finance solutions on mobile phone
- Flexible pricing options
What are you waiting for? Reach out to us today and find out how we can help you take care of your taxes.