Can Taxi Drivers Claim Accountancy Fees?
Whether you use an accountant or software like Fyled, the costs of managing your tax affairs are fully deductible business expenses.
Yes - accountancy fees is an allowable business expense for UK taxi and private hire drivers.
What You Can Claim
- Fees paid to an accountant for preparing your tax return
- Bookkeeping service fees
- Tax software subscriptions (such as Fyled)
- Payroll service fees if you employ staff
- Tax investigation insurance premiums
- One-off tax advice consultations
What You Cannot Claim
- Fees for personal tax advice unrelated to your business
- Financial planning or investment advice
- Mortgage application fees
- Legal fees for personal matters
Typical Annual Range
£100 - £500 per year
Average annual spend by UK taxi drivers on accountancy fees. Your actual costs may vary depending on location, hours worked, and vehicle type.
HMRC Rules
Accountancy fees incurred for the purpose of preparing business accounts and tax returns are fully allowable. This includes the cost of tax software, bookkeeping services, and professional accountant fees. The fees must relate to your business tax affairs, not personal tax matters.
Maximise Your Accountancy Fees Deductions
Tax software like Fyled can reduce your accountancy costs from hundreds to a fraction of the price
If your accountant charges for phone calls and emails, these are all deductible
Keep your accountant's invoices - they are evidence of the expense and evidence of professional advice received
Tax investigation insurance gives peace of mind and is fully deductible
Frequently Asked Questions
Common questions about claiming accountancy fees on your tax return
Is Fyled's subscription tax-deductible?
Yes. Fyled is tax software used for managing your business accounts and tax return. The subscription cost is a fully allowable business expense under accountancy fees.
How much do accountants charge for taxi driver returns?
Traditional accountants typically charge 200-500 for a straightforward taxi driver Self Assessment. Fyled offers the same functionality at a fraction of the cost, and the subscription is still tax-deductible.
Can I claim for tax advice about changing my business structure?
Yes. Professional advice about incorporating as a limited company, joining a partnership, or other business structure changes is deductible as it relates to your trade.
Track Your Accountancy Fees Expenses Automatically
Fyled makes it easy to record, categorise, and claim all your taxi expenses. See exactly how much tax you will save.