Tim-Grove

38p a mile, only had to use it once.

[Edited by Tim-Grove - 6/5/2003 11:32:56 PM]

adeel.a

The company I work for wants to contirbute 15p per mile for any 'business related journey' that I make.

Naturally I am slightly concerned with this... Is it enough??? Will it cover my expenses???

Having read 'Danny Boys' post, I was thinking how many litres can my 95' Jap WRX hold on a full tank of optimax and from this I can work out how much it will cost.

I am going to Brighton tomorrow from London; it will be 100 miles there and back = £15.00 (15p x 100 miles) of optimax... about 18 litres of optimax.

Will this be enough to get me there and back...

Please advise ;o)

Pyrocam999

Ask them to make it 25p a mile..........Tell them that's the mileage rate for council vehicle users

*Sonic*

to give you an example, I get 12.5p per mile for business journeys, and that roughly equates to me having to get 360 miles out of a full tank for it to cover my costs (using optimax)

Ive had 350 miles twice, 370 miles once, most of the time about 280-300 miles, so no it doesnt cover the cost @12.5p per mile

I raised this issue with the powers that be, and was told that the allowance is based upon 30 mpg and normal unleaded fuel, and most people actually make money

It was my choice to buy a car that drank fuel, was what I also got told, but at the end of every year I get tax releif, the more business miles I do, the more tax relief I get

Neil XR

iTrader: (1)

i get 40 pence per mile for authorised use of car for work

stevem2k

40p for me. Supposed to cover 'wear & tear' as well as direct costs.

Steve

ADP

they should give you 40p

see here

http://www.inlandrevenue.gov.uk/cars/p11d_ws6_2003.pdf

Table of mileage rates
Cars & Vans40p25p
Motorcycles24p24p
Cycles20p20p1
First 10,000 business miles in2002-20032
Each mile over 10,000 miles in2002-2003£C


[Edited by ADP - 6/5/2003 11:36:44 PM]

[Edited by ADP - 6/5/2003 11:37:07 PM]

john_s

iTrader: (1)

No it's not enough...

I reckon that my scoob (UK 02 WRX) costs about 15 or 16 pence per mile in optimax alone (and that's without much "fun" driving).

I've not had it long enough to gauge tyre wear, but i'm expecting to need 4 every 10K miles, so at £100 per corner, this add 4p per mile in tyre wear.

Then there's servicing; if a 10K service costs £150 (again i'm guessing, not got there yet), that's 1.5p per mile.

Then the business mileage should contribute a proportion to the other expenses... insurance, road tax, mileage related depreciation, etc.

The inland revenue approved mileage rates are 40p per mile for the first 10K miles and 25p per mile after that. I'm not convinced that these are realistic for running a scoob.

I'm trying to put a case together based on this for getting a car allowance type sallary boost at work.

John.

Sith

There is a whole differance between what they should give you and what they will give you.

*Sonic*

But a point to remember is that for what they give you, and what they should give you, is that at least you can claim the tax relief back on the difference

Scumbag

15p is pretty standard.

The Inland Revenue allow you 40p per mile for the first 10,000 and 25p per mile thereafter (IIRC)

You can claim the tax difference back from the revenue at the end of the year

ie you do 1,000 miles and get 15p per mile (£150), but the Revenue say that you are allowed 40p per mile (£400) tax free for the business use of your car.
Hence if you do a tax return, you can claim back tax at your highest rate on the difference (£400-150)
maybe 20% or 40% x 250 = £50 or £100

wos 69

Minimum should be 20pence

NACRO

tell em your car is off the road and get the tight ******* to pay for a hire car or a taxi. Otherwise you are subsidising their business/taking a pay cut. Next they will be asking you to provide your own PC, office furniture etc and offering to make a token contribution to those as well!

Foot_Tapper

Adeel, ADP is correct 40p for first 10,000 followed by
25p thereafter.(regardless of engine size).
Being self-employed, i know thats how much you can claim business
miles.
As for your company; i am not sure, but i think they can claim
your mileage from the tax man at the same rate.
ie they claim back 40p per mile for YOUR first 10,000.
If they only pay you 15p , they're on helluva winner.

[Edited by Foot_Tapper - 6/6/2003 7:44:04 AM]

AndyMoody

iTrader: (2)

We all get 40p a mile no matter what vehicle you are in, even the guy who runs a Dodge Ram 6.0 litre V8 pickup truck that does 10mpg max !!

Don't use my car for business though, always borrow someones company car instead.

Goldfinger

I used to get 40p per mile which obviously covered the petrol ... I now get 14p per mile as I have the option of having a company car, even though I don't choose to have one ... doesn't cover the mileage despite mainly motorway driving

Cheers
Phil

Neil Smalley

A 30mpg average for a journey is pretty good, even for a normal 2 litre car.

Personally I don't believe the mpg figures given in the brouchures are entirely accurate, as these are usually under specific and tightly controlled circumstances(A little like the 0-60 times).

turboman786

15p is way too low..........milegae allowance is not just '[etrol money' but takes into account wear and tear , inurance etc etc...I get 40p per mile which is pretty reasonable.....ask for more!

SPEN555

For the tax year 2002/2003 you are allowed 20p per mile for using a pushbike.

Shows how tight your company is.

Cost per mile for a scoob is over 60p per mile from memory

Gordo

It depends, surely, on whether they pay you a car allowance already or not.

i.e. They're are 3 alternatives:

1) It's a company car but they don't pay the fuel. In this instance 15p is way too low

2) It's your car and they give you no car or fuel allowance. Again, 15p is then way too low

3) It's your car but you've opted out and get a lump sum each month instead of car/fuel. In this case they'll figure that most of your motoring costs are already covered and 15p would be quite reasonable.

Good luck

G

danny-boy

I get 28p per mile. Thank god

chiark

11.1p.

They pay me a car allowance, and 11.1p doesn't cover petrol. Still, as mentioned above, you can speak nicely to the tax man and he gives you money back which can be used for toys/upgrades etc.

Stueyb

I get 40p/mile, so I actually make money. Ie going to Bingley, yorkshire, claimed £80 in petrol. In reality it only cost me about £30 at most

Mickle

I get 45p per mile

ozzy

I'm on 33p/mile though I don't travel very much at all. The last company I was with gave £450/mth and a fuel card; that was great

Stefan

Paul_M

Buy a complete shed diesel for running around on company business and you'll still get the 15p/40p tax relief and make a cracking profit on it which you can then sink into the Impreza's fuel allowance when you're not working

Dunk

iTrader: (1)

Simply travel in their time at a speed that allows you to breakeven - you'll probably get 5 mins in Brighton before turn around to come home - whose loss is it now ?

D

rozzer

When I have to use my own car 29.6p per mile which I'm more than happy with considering it doesn't cost any more on the insurance for business use

Sennadog 93

ADP is bang on the money. The only thing I would add is that you consult an accountant if there is the possibility of you using a company fuel card because in some circumstances this can work in your favour.

Failing that, booklet IR125 explains it or you can ring them on 0645 000444.

Scumbag

Senna...true
I have a fuel card with a private car + allowance + it saves me a fortune (in effect you only pay tax at your highest rate on the total amount you spend in the year on petrol on the card...just seen as another benefit)
Be careful on the differences between what your company see as business mileage, and what the REvenue define as business mileage (in the same booklet outlined above). They are NOT necessarily the same

Boy did I go into this in depth before I opted out of my last company car