davyboy

You can claim tax relief on any difference between what your employer reimburses for business miles and the Inland Revenue's approved mileage rate for your car.

I have opted out of the company car scheme and my employer give me 12p per mile.

If I have done 2000 miles and claimed 12*2000 = £240

Inland revenue mileage rate is 40p, 40*2000 = 800

The difference is 540 meaning I can claim back 40% of that.....right??

What box do I put the 540 in - 'Expenses Incurred' box 1.32?

Dave

Dunk

iTrader: (1)

Your calc & box 1.32 is correct, see the worked example on http://www.hmrc.gov.uk/worksheets/sa101notes.pdf

D

SJ_Skyline

I would put £560 in the box if I were you Dave

Dunk

iTrader: (1)

Mrs Dunk got a Cartier from this last year

D

Lum

You are correct apart from it's actually £560 as stated above.

Also, if this is the only reason you are doing a tax return, you should note that they've now brought out some form that only has the car related bit on it and none of the other crap. It's too late for this year but you might want to have a word with the tax office and get it set up for next year so that you don't have to faff around with all the other stuff.

davyboy

MrsDibbleyUK

jus asked tax department and ur right... change to 560 though

jus piling through all of ours now....
i like the way people bring their stuff in on 3rd jan
8-)

davyboy

It's a little bit more than 560, that was just an example.

Anyway, a little bit of work and they owe me £267.60.

Cool!

Milamber

iTrader: (2)

Sorry to hijack, but I've done a bit of work on the side this year and wil be paid by cheque the princely sum of £300. I really don't want to go through the hassle of filling out a tax return for that, bearing in mind I'll be giving up 40% of it anway.

davyboy

...er OK, thanks for that.

Dave

molko

Where do you get this form from ?

scoob_babe

Molko, I think you have to phone up your local tax office and ask them to send the form to you.

Frosty The Snowman

You can download it from here the one you want is the SA100 but you've also got the various other help and guidance forms on there.

Lum

I only found out because I left my tax return until the end of December to complete (problems getting paperwork sent to me that I didn't think I would need) and by that time, IR124 which is the leaflet you need to tell you how to do all the car stuff had been withdrawn in preparation for the 05/06 tax year.

Took me 4 hours phoning between my local tax office trying to find out how to do the calculation and a completely different number for the online helpdesk to try and figure out how to get box 1.32 to actually be enabled for filling in.

Tax doesn't have to be taxing... if you live on the isle of man perhaps.

fast bloke

lum - mine is wee buns - I do it 11 months in advance - if it gets feked up I have ages to sort it. The amount of 'special forms to save time and effort' is scarey though. I reckon I filled in about 15 of them on top of the full on-line tax return this year

Lum

I'd never done a tax return before. Just got told I had to do one as I was using my own car for work.
Lost my P60 and P11D in a house move. No-one told me I had to keep track of how many miles I'd done (I just get paid for my fuel) and I had no idea how many miles as my car was off the road for half of it so I can't even guess based on the odometer. Getting the information about how much had been spent on the fuel card was hard enough too. They certainly didn't tell me that I had to keep track of how much interest my bank accounts had paid! Had to make that one up and put in the comments box "I'm in the 20% bracket so you probably don't care that I plucked a random figure out of my **** for that question, if you do care for some reason get back to me about it ok?"

I guess it's ok if you're a rep on a stupid big salary and can afford to pay an accountant to do it for you and fiddle the figures.

And at the end of it all, they reckon I owe them 50 quid. *******s.

fast bloke

I pay an accountant £250.00 a year - he is worth 10 times that. Different being self employed though - last year he managed to 'find' additional allowable expenses that knocked near enough 3k off my tax bill. All legal as well