Good afternoon all.
Many moons ago I had an equiry on a local private hire operator. Quite simply the fuel costs did not bear any relation to the anticpated income disclosed by the tax payer.
From memory, I think the officer mentioned an anticipated ratio of £7 income to £1 of fuel (7:1). However this was many years ago and perhaps pre self assessment. The file has of course been disposed of in the appropriate fashion.
So the question is, does anyone have a more current grasp on anticipated ratios? It is the usual situation of trying to avoid a potential issue with a current tax payer and perhaps them failing to disclose all income and/or overstating fuel costs.
Not an ideal situation to be in I know.
Many thanks in advance