Shings

......

Stu.H

Just buy a GOOD 450bhp saff, use for personal use, and no probs



Catch up soon Jake

JjCoDeX75

Hi matey

I fill this one in

Basically, in a nutshell, you can claim back the tax on the difference between what your company pay you for each mile travelled, and the government rates (which stand at 40p for first 10k, and then 25p thereafter).


Sooooo - if you get paid say 20p a mile, then you can claim back 22% (0r 40% depending on tax bracked) of the difference between 20p and 40p.

All you have to do is fill in the number of miles that you have done in the given tax year (which you may need to prove with written and dated expense sheets, but dont need to submit)

Then tell them how much money you were paid against that mileage, and they work out the rest!

Shings

U will have pm shortley

JjCoDeX75

PM replied to

JJ

AddyT

So, if I already turn down a swanky Company Car, and choose to run my own shed, and claim 40p / mile I can't anything back?

JjCoDeX75

Sadly no - you can only claim the difference between the government rates (40p per mile for first 10k, and then 25p thereafter) then thats that.

That said, if you are doing a significant mileage, it should help make reasonable money!

Truthfully if you turned down the company car and didnt get anything more than the fuel rate per mile, then you may have made the wrong decision depending on what they were offering.

My company provides me with an annual car allowance (to buy etc) then pays me a reduced amount to cover the fuel on the basis of 20 odd pence a mile (which is considered generous!)

JJ

Iain Mac

And don't forget that if you get paid 40p/mile for more than 10,000 miles it becomes taxable income.