LUED Posted April 18, 2015 Report Share Posted April 18, 2015 £1488 for a small operators licence, which is for five years. This is the equivalent to less than £6 a week. http://www.tfl.gov.uk/info-for/taxis-and-private-hire/become-a-private-hire-licensee/private-hire-operator-licence Quote Link to comment Share on other sites More sharing options...
jax Posted April 18, 2015 Report Share Posted April 18, 2015 and you can take your own bookings? for example, can you stay in front of some club and take clients?? £1488 for a small operators licence, which is for five years. This is the equivalent to less than £6 a week. http://www.tfl.gov.uk/info-for/taxis-and-private-hire/become-a-private-hire-licensee/private-hire-operator-licence Quote Link to comment Share on other sites More sharing options...
LUED Posted April 19, 2015 Report Share Posted April 19, 2015 Yes, you can take your own bookings (hence the idea of getting an operator's licence), but if it's ASAP bookings, they can only be accepted at the address/es shown on your operator's licence. Nevertheless, you can't just stand outside a club, and ask customers if they'd like a car, as this would be considered touting, which is illegal. Bookings have to be pre-booked, or further as what I said, the customer has to be come to an address shown on your operator's licence, where they can walk up and book you, and you can take them straight away. Quote Link to comment Share on other sites More sharing options...
prouber Posted April 20, 2015 Report Share Posted April 20, 2015 I made yesterday from 6pm to 2 am, £230, i can not complain but from Today from those 230 Uber will take £57.5 instead of £46 :o :o :o :o Quote Link to comment Share on other sites More sharing options...
cardinal Posted April 20, 2015 Report Share Posted April 20, 2015 I agree, those 5% is our insurnace , our food, our money, u name it. Is to much, now we get less than 50% from what we make!!!!! Can you imagine, you have to make £4000 / month so you can make a living in London Quote Link to comment Share on other sites More sharing options...
LUED Posted April 21, 2015 Report Share Posted April 21, 2015 Experienced drivers make £4,000 a month anyway. During last December, Uber were doing a £4,000 guarantee, whereby if you meet their criteria and don't earn £4,000 during that month, they will top up your earnings in January to £4,000. Many UberX drivers who met and exceeded that criteria, earned more than the £4,000 anyway. Quote Link to comment Share on other sites More sharing options...
cardinal Posted April 22, 2015 Report Share Posted April 22, 2015 Experienced drivers make £4,000 a month anyway. During last December, Uber were doing a £4,000 guarantee, whereby if you meet their criteria and don't earn £4,000 during that month, they will top up your earnings in January to £4,000. Many UberX drivers who met and exceeded that criteria, earned more than the £4,000 anyway. Yes, but what i am saying is , from those £4000 your profit is around £2000, less than 50% after commission increased total 4000 uber commission 25% -1000 before 20% -800 petrol -500 car wash -50 insurance -200 car value depreciation -200 car parts wearing -100 profit £1950 before £2150 What do you say LUED??? Bobbycab2002, george and LUED 3 Quote Link to comment Share on other sites More sharing options...
george Posted April 22, 2015 Report Share Posted April 22, 2015 Yes, but what i am saying is , from those £4000 your profit is around £2000, less than 50% after commission increased total 4000 uber commission 25% -1000 before 20% -800 petrol -500 car wash -50 insurance -200 car value depreciation -200 car parts wearing -100 profit £1950 before £2150 What do you say LUED??? I totally agree with your math!!! Loads of people dont take in consideration the car value depreciation and tyre wearing along with other parts!! Quote Link to comment Share on other sites More sharing options...
anonymous Posted April 22, 2015 Report Share Posted April 22, 2015 I totally agree with your math!!! Loads of people dont take in consideration the car value depreciation and tyre wearing along with other parts!! I think all of you forgot something very important!!! Where is the monthly car payment , many of us i am sure they didn't pay for their cars with cash!!! From those £2000 cardinal i will cut another £300 , so your profit will be around £1700 from £4000..... OMG, say no more!! Quote Link to comment Share on other sites More sharing options...
Mr. Wolf Posted April 22, 2015 Report Share Posted April 22, 2015 Thank you guys this is great input, It's bang on. I have recently done a comprehensive spreadsheet and indeed my cost of sale is between 48% - 50% as Uber X driver. One point pls don't forget to deduct your tax after all your expenses from your Net profit. As a rule of thumb set aside upto a high 28% for the tax. Keep safe Out there. Quote Link to comment Share on other sites More sharing options...
Mr. Wolf Posted April 22, 2015 Report Share Posted April 22, 2015 I would recommend to get a professional accountant advise, it will help. Remember we don't pay tax on the first £10k per annum. For argument sake if you made £30k per annum you pay tax on £20k. Good luck. Quote Link to comment Share on other sites More sharing options...
Bobbycab2002 Posted April 22, 2015 Report Share Posted April 22, 2015 The new uber fee of 25% is only the start .It will get worst just read on forums from US. Quote Link to comment Share on other sites More sharing options...
LUED Posted April 22, 2015 Report Share Posted April 22, 2015 I suppose the figures are about right. Though the only way to get a truly accurate figure is to do this job for a number of years, and work out the ratio between takings and the amount of profit you make - on which you are taxed on (less your personal allowance). Quote Link to comment Share on other sites More sharing options...