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Reply to: Business mileage - which personal tax year?

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Previously on "Business mileage - which personal tax year?"

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  • tim123
    replied
    you allocate the expenses to the year in which you did the miles.

    HTH

    tim

    Leave a comment:

  • mobwell
    started a topic Business mileage - which personal tax year?

    Business mileage - which personal tax year?

    I have a Limited Co and claim business mileage from it. I know I can claim 40p/mile for the first 10K miles then 25p/mile thereafter but need to clrify which personal tax year some mileage falls under.
    I started trading Feb 2006 and did business mileage from day 1. However I didn't claim it from my company until end of April 2006 (new tax year!). Does the mileage done before April 6th 2006 count on last tax years limits as it was done then or does it count towards this tax year's limits as I was paid for it this tax year? I need to know as depending on the answer I may have to start paying myself 25p/mile now for future expense claims or may still pay 40p/mile for a while.

    Thanks in advance.
    Tags: None

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