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#1 02-06-06 08:34:55

Jellybean
Verified Member
From: Bedfordshire
Registered: 05-02-05
Posts: 371

Tax

I have been told that you can claim mileage to put against your tax.  As opposed to claiming for maintenance, petrol etc.

Anyone know if this is worth doing, it sounds good to me.

Jellybean

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02-06-06 08:34:55

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Re: Tax



#2 02-06-06 08:44:32

Morgan
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Registered: 10-06-05
Posts: 202

Re: Tax

Yep two ways to claim.

40p per mile is the rate. 

It really depends on how much private milage you will be doing in your car against business milage.

Simpler to use the 40p rate if your doing a lot of both, and in my experience slightly better financially. Otherwise you have to keep records of how much of each type mileage you do and pro rata the costs...it can get messy and complex.

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#3 02-06-06 10:53:35

Jellybean
Verified Member
From: Bedfordshire
Registered: 05-02-05
Posts: 371

Re: Tax

It will only be used for the business nothing else at the moment.

Jellybean

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#4 02-06-06 15:25:06

Morgan
Verified Member
Registered: 10-06-05
Posts: 202

Re: Tax

The IR tax officer at the course said as a PDI doing less than 20 hours a week, using the car solely for business I would be better off claiming the 40p.

If you own your car (Its not leased or a schools) and you have to pay ALL the running costs might be better the other way. Only way of really knowing is to keep the records correctly and do a comparison check every few months.

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#5 02-06-06 16:08:23

luchell
Guest

Re: Tax

Agree with Morgan. I claim the lot. I do VERY minimal personal mileage in mine as we dont go anywhere! So im going to claim the lot i think thats allowed isn't it neutral

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