Taxi Driver Online

http://www.thecourier.co.uk/output/2009 ... 5835t0.asp

i didn,t think perth was busy enough to demand this sort of money

Looks like an excuse to me, anyway what these ppl fail to see is you don't buy the plate as it's not yours to sell, what you sell is your place in the line to be able to use one, as long as the trade up there is servicing the customer base efficiently there shouldn't be any problem, a New York plate used to go for $1.000.000 some years ago, not sure if it still does though, but anyway one for ppl to consider here, if someone has paid £50k for a plate and the council deregulates, that person is entitled to claim the 50k back in tax relief, so add that up across the country and I can see the IRS not being a happy bunny, and they can't get out of it because they won't allow you the start up price, stating to me last time I had an investigation " we don't allow relief on the plate money so to make it a cushion if you sell it later as we want a slice of the profit" this means and I'm sure they will wiggle it somehow, that they are saying they are backing a wager on you, and if you win they get a share, and if you lose they have to allow you the losses in tax relief, now who wants to dereg so quickly, I bet the chancellor didn't think of this when he allowed his croanies to meddle with things.

We have benn chewing the cud on this one with Edinburgh. Does this happen all over Scotland? http://taxi-driver.co.uk/phpBB2/viewtopic.php?t=11409 & http://taxi-driver.co.uk/phpBB2/viewtopic.php?t=11414 Plate Barons! I hadn't heard of that one until I started to read the Scots section. I must admit I have started to look at it every day since. Most Entertaining!

“In the event that the outcome is that the quantity restriction can be justified in principle, there would then require to be an unmet demand survey carried out. The cost of this is expected to be around £25,000.

youve gotta laugh eh
policy decision before the implementation of the legislation.
why even bother with a survey.

bloody farce

Regulate yes, restrict no.

If they don't have proof already that there is no SUD, they shouldn't have a restriction at all.

BTW why consult PH operators?

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http://wingsoverscotland.com/ http://www.newsnetscotland.com/

Providing the transaction was declared in the first place

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http://wingsoverscotland.com/ http://www.newsnetscotland.com/

I am surprised the cost of a demand survey is £25,000 ; Renfrewshire Council commissioned one by Halcrow early last year, certain individuals in the licensing dept. didnt like the result (Halcrow found demand), so asked Halcrow to do another, the cost of which is to be met from 'existing resources'

http://www.taxi-driver.co.uk/phpBB2/viewtopic.php?t=11135

Whats the going rate for Halcrow surveys ?

PS Renfrewshire Council (Paisley & Glasgow Airport) facilitate plate transfers, they call it 'surrender & reissue', http://alturl.com/3jm

Another conspiracy theory

It's a capital asset like property and thus subject to capital gains tax rather than treated as current trading expenditure for income tax purposes.

However, I think losses on capital items can only be allowed against other capital gains, so for the average taxi owner the chances of getting relief for any losses on a plate are probably pretty slim.

If, however, you made a business out of buying and selling plates then the buying/selling costs would be treated as revenue/expenditure and assessed for income tax, as would someone making a business out of buying and selling houses.

Of course, your main residence is exempt from capital gains tax, thus most people don't pay it, but if you have a second home then it's not exempt, which is why some of the MPs have been getting into bother because they've been 'flipping' their second home to get Commons allowances but telling the tax man a different story

No, there's no conspiracy about it, it came out of the horses mouth at the same time as he gave me a 2.5k bill to return the money my accountant had claimed, and what I wrote earlier was the reason, also some years ago I was running a V6 automatic, 16 mpg and a 10k depreciation over 2 years gave me a cheque back from the IRS that year, so they do return money if you find yourself out of pocket for whatever reason.

Well I don't think it's a question of returning money if you're 'out of pocket' exactly.

And if you think restriction policy is based on the taxation consequences then you've been reading too much about the moon landings being faked

You're totally misreading me.


Brighton is a happening place where ppl flock all year round, i.e busy, that's the comparison, from the tax stuff, I've just listed it incase others are reading who have paid for a now dereg'd plate and are unaware that all is not lost if their accountant knows what they're doing, and obviously there is more than one plate up there, and I for one would be suprised if the value of one exceeds £10k.

With the tax, it's not about getting the lost money back by way of a cheque, what it means is that for the next few years it should be taken into account as a purchased tool that has depreciated to nothing, so until you owe tax past the value you paid for the plate you shouldn't pay tax at all, no different to buying a new car for 20k and it gets written off a few days later and the insurance company pays out only 15k, 5k loss written off against tax for the year, cos it's the depreciation between what you paid and what you received for it, hope this clears it up a bit for you.

And now I'm out drinking so it's clear the cache and saved passwords time so I can't logon drunk later, c'yall soon.

It is a happening place.
Just that nothing is at present.

We are doomed Mr Doom.

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Unmet demand you're having a laugh

Aye, Halifax is a 'happening place' too

A plate value depends on economics, not whether a place is cosmopolitian or whatever, and if demand and supply are in the same balance - ie which means the taxis are equally busy - then why shouldn't plates have the same value in a small town as opposed to a big, trendy, happening city?

Yes, Perth clearly doesn't only have one plate, but what I meant was that if the number of plates is low enough in relation to demand then why shouldn't plates in a small town be similar or even much higher than in a big city

If a big city is unrestricted then the plates are worth jack even if it's a huge metropolis and 'happening'.

It's all about the 'excess profit', which comes down to how busy the cab is in relation to an unrestricted market, so it simply depends on how "restricted' the market is.

Well it's not a 'purchased tool' - that would come under capital allowances.

The plate will come under capital gains tax, and I think losses can only be used against future capital gains, thus for the average driver they're unlikely to be used for anything, unless you know all the ins and outs?

BTW, I'm not sure if dereg would crystallise a capital loss, or would the taxi have to be sold first?

Not sure how the taxman would treat this, I think assets could be deemed to have been written off, bu suppose there was a chance of restricting?

Listen up, I have a competent accountant, and when we last had to attend an investigation I was disqualified £4k that she'd claimed for plate expenditure, when I questioned it I was told they don't allow on a plate so to cushion the blow on future profit on it, that is what HM Tax inspector told me, argue all you like but that is the fact, if I lose out on what I paid come time to wind up the business I will not pay tax until my outlay is used up, if this isn't the case then I should pay no tax on any potential profit, now stop trying to make me look an idiot, I obviously know more than you do about it, so deal with it and stop giving me the old put him down routine, I'm nearly a quarter of a century in this trade and I get well fed up with you newbie know it all's trying to dictate to me.