What do London Black Cab drivers earn per week?

Question

I'm 22 and seriously considering studying the knowledge. The idea of earning good money and working when you like appeals but is it all its cracked up to be?

I ask this because quite often i hear that its not as good as it was,

but my local town (upminster) has black cabs on half its driveways so it cant be too sad, can it??

Chris P............. just looking for an honest opinion!! :-)

Answer 1

Not enough according to my Dad!!

Answer 2

All depends on how many hours you do but today I took a five minute cab ride from one side of the the City (of London) to another and it cost £7.80!

I know a few cabbies, and they clear in excess of £50,000  a year but they work long hours and the cost of the cab itself is quite expensive.

But anyway, go for it as we need more cabbies, there are not enough

Answer 3

Depends how long and how many days a driver works but a rough guide for a 5 day week would be around £500-£600.

Answer 4

As many are self employed they can earn a lot of money. the average fare from Central London to Heathrow is £55-£60. it takes about an hour to get there. You can pick up a fare once there to come back. do that trip there and back twice a day and you have earned £1000 in a week. But bear in mind you have to take off the costs involved. The cost of the cab, fuel and insurance. Put a little aside for servicing the cab. what you are left with is your gross operating  profit this is what you will be taxed on. Income Tax, NI and VAT ( there is a fresh hold to reach which is tax free, Income and NI is £5225 and i think VAT £40000) Though some of  VAT is recoverable from the VAT you pay in the cost of the cab, fuel and insurance. As it is a mainly cash business. you can hide some of the cash and not declare it to the tax man therefore not paying any tax. so long as you declare a reasonable amount and don't take the mick you should get away with it. Training is hard though and can take anywhhere between 3 -6 years depending on the time you have to learn. I say if you are confident you can do it go for it, cos they do earn quite a lot.

Answer 5

really it is dependent on the numberof hours worked, how many fares you have per week and how expensive the journies.

I do not think that it really can be defined.

Answer 6

loads

Answer 7

they can earn what they want,do their own hour's, some prefer nights some days,but they have to be well over £30,000 a year and that's just basics,no job is as good as it was,but go for it.

Answer 8

Less than white cab drivers do. Its all racism i tell yah. Sticking it to the black man again.