Mileage Tip Part 1

If you travel for work you can claim 45p/ mile you travel up to 10,000 miles in the tax year. After 10,000 miles this drops to 25p/mile- treat as a business exepense to reduce your taxable profit. 
This rate is supposed to cover fuel, maintenance, road tax and insurance so you can’t claim for these as well otherwise you’d be double counting and the tax man won’t be happy!
Note- You can not claim for travel between your home and your office; however, if you work from home then any business miles you do is allowable. 
Call LeeP if you’d like to discuss other options such as vehicle leasing or claiming actual costs of running your vehicle instead of mileage 01733 699033 or email [email protected]

Will 45p/mike cover your actual running costs?

LeeP Accountants

Helping you keep more of your money