London cab driver average earnings

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For more information please see our Advertiser Disclosure. The site may not review or include all companies or all available products. And they provide a mine of information for their passengers. Only when you can show that you can navigate proficiently between those points are you allowed to work as a taxi driver in London. The mental effort required to learn the names and location of every street, avenue, mews and cul-de-sac within a 6 mile radius of Trafalgar Square, as well as 50, points of interest, is mind boggling.

The scale of the task becomes apparent when you enter a small, nondescript, prefabricated office building on an industrial estate on the far eastern outskirts of the city.

These are the unassuming headquarters of the London Knowledge School , one of a number of schools training the black cab drivers of the future. Inside, more than a dozen aspiring drivers pore over large maps of the capital for up to eight hours a day, memorizing the whole higgledy-piggledy hodgepodge of the metropolis and testing each other on the quickest routes through the maze.

Doing The Knowledge and then sitting more than a dozen grueling exams can take anything from three years up to a decade, depending on whether the student is devoted full time to the task. But is The Knowledge still necessary? Fri 20 Apr London cabbies - how much do they earn? All london cabbies, thats london licensed taxi drivers are freelance,some own taxis, they are known as mushers and some rent taxis, they are known as jorneymen but they are all freelance,that is they earn and generate their own oncome and pay their dues,if they work long hours they get paid more than working short hours, some day are good and some are bad and earnings are usually k with unsociable hours.

Not as much as you might imagine. I remember reading an article in a professional tax magazine entitled something like 'What to do if the Taxman says your cabbie isn't earning enough. The view was that annual income wasn't a lot of money, a ssimilar amount to that suggested by the Guardian. I remember reading an article in a professional tax magazine entitled There was a TV programme some years ago about some young lads on their mopeds learning 'the knowledge'.

The programme hinted at huge earnings when qualified. It is obviously not in any cabbies interest to reveal his true earnings. Firstly as we might tip less if we knew just how much they can make, and the taxman might want a bigger slice. Obviously earnings are almost directly proportional to the time you spend on the road.

Every so often the Taxman 'does a number' on a driver. Lifestyle, bank accounts, taxi mileage, meters are all examinined. Counter measures are an art! If you are sat with the meter off, it's no good. One summer when i was a student i worked for a mortgage provider doing admin and general office stuff.

We had a taxi driver apply for a re-mortgage on his house, if you looked at the figures on his accounts the mortgage was something like 8 times his income but he had been paying the mortgage for many years.

It was looked at by a senior underwriter who decided that as he had been paying the mortgage without problems on a higher rate as well for years that we could do the mortgage as it was obvious what was actually happening. Tax evasion is unlawful. Therefore money left over as a result of it is 'proceeds of crime'.

I live in the heart of cabbie'land dahn sarf from oop norf. By the "heart of cabbie land", I mean Redbridge Most of the time you will find them when they are not actually working the sherbert dab in the travel agents booking their next Cruise. My brother drives a sherbert, he works the hours he likes and is browner than Mr Brown from Brown Town from h'all the 'olidays 'e h'as.

Part of the'tax counter measures' I spoke about is to ensure that Cruises etc are not paid for by the cabbie himself. Surprising how many cabbies have friends who treat them to a cruise every so often. He wouldn't get away now with a mortgage that his declared income could not support. He would if he 'self certified' the mortgage. Might have to pay a higher interest rate, but that would be paid for by the underdeclared income. Tue 25 Oct London cabbies - how much do they earn?

The difficulty is not obtaining a mortgage that your declared income cannot support. It is when you are investigated by the taxman.