Mobile hairdressing fuel

[laura250]

Ive seen a few forums on this how does everybody put fuel and car mantaince through there books do they work out millage or a % on how much u use it for business?

 

[Karina B]

I think it will depend on whether it is your personal car that you are using for business or is the car owned by your company (so your beauty business).

You will need to check the HMRC website. But from recollection, if it is your car you offset 40p per mile for 10,000 then 25p after that.

If it is owned by your company you can offset it all, however you will pay more personal tax because it is a benefit in kind.

It's a long time since I worked for an accountancy service, but I think that's how it worked.

 

[laura250]

Its my own car does 40p per mile include insurance mot ect or is it just for petrol 40p per mile ?

 

[Karina B]

Yes, 40p includes milage, wear and tear and upkeep. Once you have reached 10,000 (£4000) it then drops.

 

[Karina B]

I have just had a chance to look at the HMRC website, it's gone up to 45p/25p.

https://www.gov.uk/expenses-and-benefits-business-travel-mileage/rules-for-tax

 

[laura250]

Thank you