Buisness Miles

[fion4]

For all you who are mobile how much do you put down per mile as exenses

** As anyone got a template for what they use to record business mileages they would like to share with me :o

** Also when claiming business miles is it you would use 40p per mile and knock this off your profits? or is this just for tax.

Fiona

 

[jotommo]

40p per mile

 

[jes]

Yes you can claim 40p per mile for business mileage only, but you then cannot claim any other motoring expenses like road tax, car insurance and MOT/serving etc or the cost of a car

HTH

 

[shedunlop]

It is 40p per mile for the first 10,000 in a tax year and 25p per mile thereafter. This takes into account all motoring expenses so you cannot claim for anything else on top. Hope this clarifies it for you.

 

[Rapunzel]

For all you who are mobile how much do you put down per mile as exenses

Fiona

Think it also depends on the size of your engine if over 1800cc its 40p a mile if under its 35p a mile this does take it to account all motoring expenses might want to check on the hmrc website to double check x
Posted via Mobile Device

 

[fion4]

Thanks for your replies

Mine is a 1.1 so best check out the 35p/45p.

Any ideas best way to find this out?

Fiona x

 

[TheBack&Beyond]

Any ideas best way to find this out?

I'd say ask a pro - like an accountant or even call the HMRC - the ones I've worked with are a friendly bunch.

 

[fion4]

First post updated

 

[jes]

For all you who are mobile how much do you put down per mile as exenses

** As anyone got a template for what they use to record business mileages they would like to share with me :o


** Also when claiming business miles is it you would use 40p per mile and knock this off your profits? or is this just for tax.

Simply record the mileage, each day, used for business and preferably personal trips or at least your, total, annual mileage.

Do not 'knock off' anything on a tax return. Declare your full profits/takings and total expenses and let HMRC do the 'knocking off'

HTH
jes

 

[fion4]

ok thank you