New mileage rate (55p/mile)

[malvolio]

Mine is about 2ppm on fuel, £250 a year insurance.

plus depreciation, plus lost interest on capital, plus servicing, plus consumables...

If you want an objective answer, the RAC are saying up to 65ppm for a "standard" petrol car, rather less for an EV.

[Protagoras]

The reason for the sudden increase in allowances is because fuel prices have increaded - fuel is not a fixed cost...

Quite. Yet fixed costs have gone up too - and significantly for service / repair - but there's no account of this in terms of changing the 10k miles threshold or increasing the milage rate to cover the fixed cost increases.

No one I know now uses their personal car for business.

[WTFH]

Quite. Yet fixed costs have gone up too - and significantly for service / repair - but there's no account of this in terms of changing the 10k miles threshold or increasing the milage rate to cover the fixed cost increases.

No one I know now uses their personal car for business.

Flip side is that compared to when some of our esteemed members were working, there aren't as many business drivers on the road as a percentage of total road users. Many people are able to work remotely, the need to go to a client site every day is rare.

My wife used to do 2 days a week delivering training on client sites and 3 days a week in the office. She now does 2 days a month on client sites, and 1 day a quarter in the office.
My annual business mileage 20 years ago was around 12,000. In the last financial year it was under 1,000. The wear & tear due to business use is a fraction of that due to personal use.
Business use of a car is a lot rarer than it used to be, I suppose some "contractors" put the car through their Ltd even though it's mostly personal use, but that's a choice they make.