My company cars up for renewal and i have the option of taking a car allowance if i want. I have heard that i can claim tax back on my business mileage if i have my own car. After a little research still not sure if i can so any help confirm this would be a great help:-
At the moment I run a company car with the fuel payed for by the company for both business & private mileage . I then reimburse the company for my private mileage.
If I take the car allowance and source my own car, the fuel will still be payed for by the company for both business & private miles, for which I still reimburse the company for my private mileage.
So as I understand it, if the company supplies the fuel for all the business mileage I would not be able to claim any tax back.
I can only claim tax back, if i pay for the fuel used for business mileage and then am reimbursed by the company for some of the HMRC values
e.g reimbursed 15p per mile
45-15= 30p for the first 10000
25-15= 10p for anything over 10000