40p per mile mileage

[richy_rich]

For the divvys amongst us...

Does this mean I can claim 40p per mile from today or is it company tax year when this figure resets?

Cheers.

RR.

[malvolio]

For the divvys amongst us...

Does this mean I can claim 40p per mile from today or is it company tax year when this figure resets?

Cheers.

RR.

It runs with the tax year.

[SteveV]

It runs with the tax year.

which one, company tax year or 5april tax year ?

[ruth11]

It's personal allowance, not a company one, so it's the personal tax year.

So yes, from today you can again start claiming 40p per mile.

At least that's my understanding....

[malvolio]

Agreed, absolutely correct. I said "Tax year" as opposed to "Company Year" for a reason , but perhaps should have been more precise.

[Nixon Williams]

It does re-start on 6th April each year.

It also re-starts if you have changed your employment, although this will tend to only apply to people who start a new business part way through the year. For the avoidance of doubt, it does not re-start with each new contract.

Alan

[IdleObserverNo1]

The Business Mileage Allowance for use of private cars for company business is set by the Inland Revenue. Currently it stands at a maximum of 40p and has been this figure for several years. The company itself can pay you less. But you can claim the difference from the Inland Revenue.
The Inland Revenue sets the rate for each Inland Revenue Tax year which runs from 6th april to 5th April.
As the rate has not changed for several years, at the moment it is irrelevant whether or not your company's business year coincides with the Inland Revenue's tax year.

[SteveV]

It also re-starts if you have changed your employment, although this will tend to only apply to people who start a new business part way through the year.
Alan

That doesn't sound right, if it is personal allowance surely it is 10k per year for all jobs combined

[Danbro]

Danbro Accounting

That doesn't sound right, if it is personal allowance surely it is 10k per year for all jobs combined

Hi Steve,

As I understand it, the 10,000 does retart if you change employment but not if you have control of the companies, ie if you are a Director / shareholder and start a new company the 10k allowance wouldnt start again.

Thanks

Neil

[NotAllThere]

No. It's as the ACCOUNTANT says.