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car mileage info needed!

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    car mileage info needed!

    Hi Folks
    I am a ltd company but am also doing some work at present for another company under there PAYE.
    They are paying me an Hourly rate plus 30p per mile for motor.
    Can I as before also submit on my tax return all my motoring expenses such as Fuel Parts, Servicing etc.

    I am also about to change my car. Can I claim the cost of the vehicle on my tax return as an expense.
    I have another vehicle for personal use and am using thed new purchase just for work purposes.
    Any info appreciated.
    Thanks Folks!

    #2
    IIRC, and this might be a bit out of date, it's a long time since I was a permie claiming mileage...

    You can either use the mileage rate, or the actual costs.

    Mileage: the official rate is 40p for the first (can't remember the cut off) x miles, then 25p thereafter. You are paid 30p. So up to the limit, you are entitled to a tax rebate on 10p a mile. After the limit, you have to pay tax as a benefit on 5p a mile.

    Actual costs: you have to record ALL costs - petrol, oil, servicing, insurance( I think), car tax, depreciation (maybe, but I doubt it). Say that comes to £10,000 in a year. If during that year you drive 10,000 business miles, and 20,000 miles overall, then you can claim a rebate on the proportion of business use over personal use - i.e. in this example, on £5000.

    It seems unlikely to me that you'd be able to claim the purchase cost of a vehicle.

    Check with your accountant!
    Last edited by NotAllThere; 15 September 2007, 05:08.
    Down with racism. Long live miscegenation!

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      #3
      Thanks Not all there fot the info

      I Can't see why I would not be able to claim the cost of my vehicle as it is purchase and used solely for work purposes.
      I have another car that I use normally.
      I cannot see therefore why it would be any different to a van
      Cheers
      Moscow

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