Limited company Mileage Accounting

[console]

I have a question regarding the accounting for mileage.

I presently use my business debit card to fuel my personal car for business mileage, Do I still claim a mileage allowance of 45ppm even though the company has paid for the fuel ?

Regards

[northernladuk]

So you your company pays for the fuel you then also claim back 45p for?? What do you think the 45p claim is for?

Who told you the company could pay for the fuel in your private car? How do you split the petrol in your tank between private and business miles?

Newbies guides for expenses on the right-->
Plenty of stuff on Google and then there is your accountant.

[DSF70]

Probably best reading some of the links on the right hand side...there one called contractor expenses.

[Lance]

you've been contracting for 10 years, have considered one of the dodgiest tax evasion/avoidance schemes proposed on these pages and asked whether having 2 LTDs allows you to avoid the 24 month rule.

And now don't appear to understand probably the most basic expense claim of any employee (never mind business owner).

Seriously?

[mike67]

OP has been contracting for 10 years and this is the first time he has considered this? And has never been challenged by his accountant if he has been double bubbling the expenses? And has just started looking into overseas tax avoidance strategies? Really?

[WTFH]

Based on the questions, I'm unsure if the OP actually has an accountant, or has just been doing the accounting on their own.

[l35kee]

Based on the questions, I'm unsure if the OP actually has an accountant, or has just been doing the accounting on their own.

You forgot the double quotes.

"doing the accounting"

[MarillionFan]

I have a question regarding the accounting for mileage.

I presently use my business debit card to fuel my personal car for business mileage, Do I still claim a mileage allowance of 45ppm even though the company has paid for the fuel ?

Regards

Yes both. Plus you can buy a sports car tax free through your limited. It's brilliant what you can claim for. Your head would spin if I told you about the free holidays and first class travel

[northernladyuk]

I have a question regarding the accounting for mileage.

I presently use my business debit card to fuel my personal car for business mileage, Do I still claim a mileage allowance of 45ppm even though the company has paid for the fuel ?

Regards

Yes you do claim the 45ppm, assuming you are entitled to claim as per 24 month rule. You then need to deal with the fact that you have been using a company debit card for your personal expenditure. You should talk to your accountant about this. There may be a solution whereby you roll all these payments up into a Director's Loan and pay it back, but you do need proper advice on this.

If you don't have an accountant, you need to get one. This is a pretty basic thing to get wrong and there is a high likelihood that you have other basic things wrong and don't know about it yet.

[Nayab]

Yes both. Plus you can buy a sports car tax free through your limited. It's brilliant what you can claim for. Your head would spin if I told you about the free holidays and first class travel

Tell me more of this fascinating stuff please.....