Capital tax allowances are allowances on fixed assets a business may claim as a deduction from net profit to arrive at the net taxable profit. If a taxi driver does not claim the correct capital tax allowances in the taxi accounts that net taxable profit and the income tax and national insurance ...

Capital tax allowances are allowances on fixed assets a business may claim as a deduction from net profit to arrive at the net taxable profit. If a taxi driver does not claim the correct capital tax allowances in the taxi accounts that net taxable profit and the income tax and national insurance payable will...