Mileage Charge ???
06 June 2005, 02:59 PM
#1
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Mileage Charge ???
Whats an acceptable rate ??
Got a company car but sometimes use my own !
So per mile what should i be aiming to get ??
Cheers
Got a company car but sometimes use my own !
So per mile what should i be aiming to get ??
Cheers
06 June 2005, 03:05 PM
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Why would a company pay you a mileage rate to use your own car if you have a company car?
Usually if you have a company car / car allowance you can expect a lower mileage rate, it varies, I get 12p (criminal) where I am atm, I used to get 35p elsewhere.
Usually if you have a company car / car allowance you can expect a lower mileage rate, it varies, I get 12p (criminal) where I am atm, I used to get 35p elsewhere.
06 June 2005, 03:13 PM
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I give my car to my boss when he's here as he is based down south & just flys up
He suggested that i charge for the mileage i use
He suggested that i charge for the mileage i use
06 June 2005, 03:20 PM
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Originally Posted by sti-04!!
I give my car to my boss when he's here as he is based down south & just flys up
He suggested that i charge for the mileage i use
He suggested that i charge for the mileage i use
06 June 2005, 03:23 PM
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HMRC (Inland Revenue) publish a set of authorised rates.
http://www.hmrc.gov.uk/rates/mileage.htm
IIRC, you can claim a tax deduction if you are paid under the rates. Maybe. Possibly. Ish
http://www.hmrc.gov.uk/rates/mileage.htm
IIRC, you can claim a tax deduction if you are paid under the rates. Maybe. Possibly. Ish
06 June 2005, 03:26 PM
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Typically, companies will pay 35p if you don't get a company car/car allowance and 10-13p if you do.
If they pay you more than 40p per mile, it's a taxable perk on your P11D under expenses. If they pay you less than 40p per mile, you can claim the tax back on the difference between what they pay and what the IR allows (40p per mile on first 10000 miles per annum, reduced after that).
If they pay you more than 40p per mile, it's a taxable perk on your P11D under expenses. If they pay you less than 40p per mile, you can claim the tax back on the difference between what they pay and what the IR allows (40p per mile on first 10000 miles per annum, reduced after that).
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07 June 2005, 09:39 AM
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usually in this situation the company would tell you what their "internally approved" rate is. here it's 40p for the first 10k then 25p/mile thereafter for each tax year.
EiW - seen that info before, so i think that's why are rates are set at this level
STi-04 - 40p/mile it is then! if it's your own car he's using then it's obviously a lot cheaper for your employer than paying for car hire and a lot cheaper than cabs everywhere
EiW - seen that info before, so i think that's why are rates are set at this level
STi-04 - 40p/mile it is then! if it's your own car he's using then it's obviously a lot cheaper for your employer than paying for car hire and a lot cheaper than cabs everywhere
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