What mileage do you get paid ?????
13 February 2003, 10:21 AM
#3
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AA reccomend mileage claims for using your personal car, currently for a 2.0 liter engined car it is 42p per mile for the first 10k miles. beware there are tax implications if the allowance is over a certain amount.
I charge my company 42p.
I charge my company 42p.
13 February 2003, 10:46 AM
#7
The IR mileage allowance rate is now 40p for the first 10000 miles and 25p thereafter.
Sounds like your employers are a bit behind the times and should be given some figures like the AA running costs.
Slightly good news is that you will be able to claim tax relief on the difference between the rate you are paid and the IR rate - but best get the employers rate to match the IR.
Nick
1997 Forester S/tb
Sounds like your employers are a bit behind the times and should be given some figures like the AA running costs.
Slightly good news is that you will be able to claim tax relief on the difference between the rate you are paid and the IR rate - but best get the employers rate to match the IR.
Nick
1997 Forester S/tb
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13 February 2003, 10:49 AM
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The maximum you can claim tax free is:-
40p/mile for the first 10000miles
20p/mile thereafter.
You can claim over this but are liable to be taxed on the extra. If you get less than this you can actually claim the extra tax free benefit form the inland revenue and they will alter your tax code for the following year, or maybe a reimbursement. eg. if you get 18p/mile from you company and you do 1000miles, you would get £180 from you company tax free, but you are actually entitled to £400 tax free, therefore at the end of the year you can claim that you incurred £220 expenses wholly on business on top of the £180 you have already means. That means that you should be entitled to your tax back on the £220, and if you are in 40% bracket then you would have overpaid you tax bill by £88. This some can be fairly substaincial at the end of the year if you do lots of miles! I'm not an accountant but i am a contractor and this is what i understand from the paperwork they IR try to trick you with.
Don't let the b@stards ahve anymore than they can, they only give it to illegal immigrants and terrorists!
40p/mile for the first 10000miles
20p/mile thereafter.
You can claim over this but are liable to be taxed on the extra. If you get less than this you can actually claim the extra tax free benefit form the inland revenue and they will alter your tax code for the following year, or maybe a reimbursement. eg. if you get 18p/mile from you company and you do 1000miles, you would get £180 from you company tax free, but you are actually entitled to £400 tax free, therefore at the end of the year you can claim that you incurred £220 expenses wholly on business on top of the £180 you have already means. That means that you should be entitled to your tax back on the £220, and if you are in 40% bracket then you would have overpaid you tax bill by £88. This some can be fairly substaincial at the end of the year if you do lots of miles! I'm not an accountant but i am a contractor and this is what i understand from the paperwork they IR try to trick you with.
Don't let the b@stards ahve anymore than they can, they only give it to illegal immigrants and terrorists!
13 February 2003, 11:41 AM
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It defo 40ppm for the first 10K then 25ppm thereafter. Anything above that is a taxable benefit. I work for an accountancy software company.
If you take a passenger with you make sure you note the mileage and pass the information on to your employer. You can get an extra 5ppm per passanger tax free.
Rich
If you take a passenger with you make sure you note the mileage and pass the information on to your employer. You can get an extra 5ppm per passanger tax free.
Rich
13 February 2003, 11:46 AM
#13
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Austen,
Don't understand that, as I have had my tax coding through for this year, and it had taxable benifits on it. I spoke to our treasurers department, and on the rate I have stated, any mileage that exceeds 2500miles in the same tax year for that rate, means I am charged as a taxable benefit.
I have since been intouch with the IR, and they have confirmed that.
Were did you get your figures from??
Regards,
Shaun.
Don't understand that, as I have had my tax coding through for this year, and it had taxable benifits on it. I spoke to our treasurers department, and on the rate I have stated, any mileage that exceeds 2500miles in the same tax year for that rate, means I am charged as a taxable benefit.
I have since been intouch with the IR, and they have confirmed that.
Were did you get your figures from??
Regards,
Shaun.
13 February 2003, 11:50 AM
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The rates and scales did change in 2002
see here http://www.inlandrevenue.gov.uk/rates/mileage.htm
[Edited by austen_wrx - 2/13/2003 11:51:15 AM]
[Edited by austen_wrx - 2/13/2003 11:53:05 AM]
see here http://www.inlandrevenue.gov.uk/rates/mileage.htm
[Edited by austen_wrx - 2/13/2003 11:51:15 AM]
[Edited by austen_wrx - 2/13/2003 11:53:05 AM]
13 February 2003, 11:52 AM
#15
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Mine is a bit odd - I get something like 18 ppm in running costs (capped at £20 approx per day) and 18 ppm for fuel.
I don't do a lot of business miles, so I won't be hitting any thresholds...
I don't do a lot of business miles, so I won't be hitting any thresholds...
13 February 2003, 11:59 AM
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Yes Austin you should be able claim back the difference if your employer pays something less than the limits mentioned before.
Shaun public sector mileage and the way its taxed has changed massively this year. Your tax coding you received is likely to refer to mileage you did in year 6/4/01-5/4/02. Its usually done in arrears therefore mileage you are doing in this year (6/4/02-5/4/03)will be assessed on the rates mentioned above.
I would check with whoever takes care of the P11D's at your employer.
Rich.
Shaun public sector mileage and the way its taxed has changed massively this year. Your tax coding you received is likely to refer to mileage you did in year 6/4/01-5/4/02. Its usually done in arrears therefore mileage you are doing in this year (6/4/02-5/4/03)will be assessed on the rates mentioned above.
I would check with whoever takes care of the P11D's at your employer.
Rich.
13 February 2003, 12:00 PM
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This is better, there are some examples at the bottom
http://www.inlandrevenue.gov.uk/pdfs/ir124.htm#7
[Edited by austen_wrx - 2/13/2003 12:01:48 PM]
http://www.inlandrevenue.gov.uk/pdfs/ir124.htm#7
[Edited by austen_wrx - 2/13/2003 12:01:48 PM]
13 February 2003, 12:18 PM
#19
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Jen if I recall you are a transport planner. 50p a mile 
Our local authority only gives us 37.1p a mile and there is no way it covers fuel and running costs in the scooby!!
Our local authority only gives us 37.1p a mile and there is no way it covers fuel and running costs in the scooby!!
13 February 2003, 12:54 PM
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Saxo - Traffic Management now 
..alot more fun 
Still 50p with us, although there are rumours about it going down to 37p...but I'm pretending it's not really happening
...anyway, off out on site now
..alot more fun Still 50p with us, although there are rumours about it going down to 37p...but I'm pretending it's not really happening
...anyway, off out on site now
13 February 2003, 01:46 PM
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11.3p per mile. This is not just petrol but is also supposed to cover depreciation, servicing, repairs and tyres, tax, and breakdown subscription 
Who are they trying to kid But I do get a car allowance, but that's for buying a car, not running costs
Who are they trying to kid But I do get a car allowance, but that's for buying a car, not running costs
13 February 2003, 03:20 PM
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33p per mile irregardless of distance travelled sounds grim initially but utilising the 40p/25p it works out better for me because i do about 1,500 miles per month. Using the Revenue scale i would get 834 (10,000/12) miles @ 40p = £333.33 and 666 miles at 20p = £133.20 so together my claim for 1,500 business miles would be £466.53
The way I recieve expenses i.e 33p per mile with no threshold = 1,500 x 33p = £495
The only bummer is if i do less than 834 miles in a month, then i get royally spanked
I've just read that through and i reckon i'll be the only person on the planet who understands it
Mikey
sounds grim initially but utilising the 40p/25p it works out better for me because i do about 1,500 miles per month. Using the Revenue scale i would get 834 (10,000/12) miles @ 40p = £333.33 and 666 miles at 20p = £133.20 so together my claim for 1,500 business miles would be £466.53 The way I recieve expenses i.e 33p per mile with no threshold = 1,500 x 33p = £495
The only bummer is if i do less than 834 miles in a month, then i get royally spanked
I've just read that through and i reckon i'll be the only person on the planet who understands it
Mikey
13 February 2003, 03:57 PM
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I am still looking into all the options to buying my new WRX.
My girlfriend is the director of MY business (long story) so in effect I am just an employee.
I will be taking the car on some kind of lease/PCP plan at around £380 per month. If I put 1000 miles a month claim at 40 pp, does that mean I can claim 400GBP tax free from the business????
My girlfriend is the director of MY business (long story) so in effect I am just an employee.
I will be taking the car on some kind of lease/PCP plan at around £380 per month. If I put 1000 miles a month claim at 40 pp, does that mean I can claim 400GBP tax free from the business????