Originally posted by Andy O
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Receipts for mileage
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Originally posted by northernladuk View PostWell that will save you a fortune claiming all that mileage. Fill your boots
You gonna ask a question about claiming the stuff you bought for lunch?Comment
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Originally posted by paulb567 View PostI thought there was some strange EU VAT thing where you were meant to keep fuel receipts if you reclaimed the VAT on the fuel element of the mileage allowance.
Or perhaps I'm wrong.
BooComment
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Originally posted by northernladuk View PostIs this what you mean? But that's for claiming the fuel back which we don't.
VAT on fuel ' the new rules | AccountingWEB
If you did 10,000 miles in a car with a medium sized diesel engine you could claim £4500 from your company tax free. The fuel part of the mileage allowance payment is 10,000 x £0.11, so the VAT your company could reclaim on this is £220.
This amount goes as high as £400 for a larger petrol engined car. (https://www.gov.uk/government/public...-december-2015)Comment
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Originally posted by Boo View PostI believe you are right on that : the EU insisted that where the VAT element on mileage is claimed that fuel receipts be retained as evidence. The spreadsheet I use has 2 separate modes of use : one where I reclaim the VAT element of the notional fuel use and the other without this.
If you aren't then you have to keep the receipts."You’re just a bad memory who doesn’t know when to go away" JRComment
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Originally posted by northernladuk View PostIs this what you mean? But that's for claiming the fuel back which we don't.
VAT on fuel ' the new rules | AccountingWEB
edit: oops. Missed the responses saying this.Comment
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Originally posted by ASB View PostIf not on flat rate vat the there is a vat element that can be reclaimed (effectively the VAT on the fuel portion). If claiming this then petrol receipts that are contemporaneous with the claim and showing at least the VAT reclaiomed should be provided.
edit: oops. Missed the responses saying this.'CUK forum personality of 2011 - Winner - Yes really!!!!Comment
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Originally posted by northernladuk View PostNice word!!!! So is reclaiomed!!! I don't even know what they mean. I must be fik!Comment
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I had an accountant once who said I still had to keep petrol reciepts even though I was on flat rate. I asked why.
He said he wasnt sure but someone got investigated because they didnt keep receipts. I tried to say but yes was he flat rate registered. Dunno.
Lasted 2 months that accountant. IPSE recommended local one. Completely clueless.Rhyddid i lofnod psychocandy!!!!Comment
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Originally posted by psychocandy View PostI had an accountant once who said I still had to keep petrol reciepts even though I was on flat rate. I asked why.
He said he wasnt sure but someone got investigated because they didnt keep receipts. I tried to say but yes was he flat rate registered. Dunno.
Lasted 2 months that accountant. IPSE recommended local one. Completely clueless."You’re just a bad memory who doesn’t know when to go away" JRComment
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