HGV Drivers Accounting Services

accounting hgv2 smallFor a HGV driver life is hard enough, its long hours, can be frustrating at times but it can also be flexible, rewarding and if set up correctly very profitable too. That is where our services come in. You may be starting out as an HGV driver having recently got a license or have been in the business for years with many miles under your belt. Either way it is always worth checking what accounting set up works best for you. In other words working out how to keep as much of your hard earned cash in your pocket. With this in mind there are three main options available to HGV drivers:


When you work PAYE you pay tax and national insurance on the payments you receive.  You are also unlikely to be able to claim a lot of your expenses, although sometimes these are paid for by the company you drive for.  Most drivers do not receive sick pay, but will usually receive holiday pay, you may have a zero-hour contract which means you are not entitled to paid time off.

Umbrella Companies

The umbrella companies run payroll on your behalf by charging a fee. From this year these companies seem to be increasing their charges and are under tight scrutiny by HMRC for expenses for drivers. Using an umbrella company can open up many HGV drivers to unexpected higher costs and potentially less take home pay.

Become a Limited Company!

Yes, we know, that sounds really daunting but not if you have the right help. The limited company allows HGV drivers to receive a higher rate of pay per hour. Income is drawn from a small salary, expenses and the rest in dividends. Registration for VAT is voluntary and can be financially beneficial but will be discussed on an individual basis. Currently VAT is on the flat rate scheme which means charging VAT at 20% on the invoice but only paying 10% to HMRC as you would not claim VAT on expenses.  Many expenses can also be claimed which reduce the tax bill at the end of the year.

So those are the three options. The limited company structure offers far more scope and money in your pocket which is why at Rely-a-Bull Accounting Services we encourage HGV drivers to seek professional advice before they set up as a limited company. Some drivers set up a limited company and think that they can manage it themselves, but really very few people can and its best to get it right from the start.

In order to help run your limited company we carry out the following on your behalf letting you get on with the driving: 

  • Invoicing (once a week).
  • Bookkeeping
  • VAT Returns
  • PAYE (as a company that employs someone, even just themselves, they must be registered for PAYE)
  • Self-assessments (one every year for a Director)
  • Accounts and Corporation tax return (submitted every year)
  • Confirmation Statements (previously Annual Return) submitted to Companies House

Our team keep in regular contact with you so nothing is ever missed so no more HMRC deadlines or fines to worry about. If we need any paperwork or documentation, we can arrange to collect this from you. Our Business Consultant has direct experience of being a limited company driver so we can help with work contacts, personal budgets, a complete package of support to keep you on the road.

We do all of the above for a weekly payment of £25 with no hidden extra costs.

Due to the nature of this work, we can also cover HGV drivers anywhere in the UK. To find out more please call on 01206 524503 today.

Important note - any fees we charge to run this set up for you are far outweighed by the gains reaped. Taking this route for 99% of HGV drivers really is a no brainer!

Accountants for Limited Companies
- Company Formation 
- Invoicing 
- Bookkeeping 
- Payroll 
- VAT Returns 
- Corporation Tax Returns 
- Annual Accounts 
- Director's Personal Tax Return

Accountant for Sole Traders

- Registration of your company
- Invoicing
- Bookkeeping
- Payroll (if necessary)
- VAT Returns (if necessary)
- Personal Tax Return

Accountant for Individuals

Personal Tax Returns need to be completed for a number of different reasons, whether this is to report a taxable income, such as dividends or to report rental property income, we can help you with all this.