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Posted By Andy Binstead
A common issue for many of us who are required to drive as a part of our jobs - but what mileage rate does everyone get? (company car, 1.9 turbo diesel). Currently, am paid 9p per mile - only just managed to get a company car and be interested in your experiences of rates - before i can go to the manager!
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Posted By Karen Todd
Andy,
You can put in a claim for tax relief if you are paid below the approved mileage rates from the inland revenue.
In my experience, inland revenue have not been most helpful (I don't think they like people getting money back off them).
One year, I had a Renault Laguna 2.2 diesel for which the mileage rate was 63p - I only got 25p/mile and so the difference was quite a bit.
The mileage rate from the inland revenue for my car is now 40p/mile.
You could try asking for "the rate approved by the inland revenue" and if you don't get it say, "Oh dear, I'll have to put a claim for tax relief in then" (this has sometimes panicked employers).
If you get paid more than the approved mileage rate (some chance), then you have to pay tax on that.
Go to www.inlandrevenue.gov.uk for more info. There is a leaflet all about using your own car for work.
Regards,
Karen
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Posted By Karen Todd
Sorry Andy, I had assumed you used your own car and got paid 9p/mile.
No-one I know who has a company car also gets paid a mileage rate, theirs are all fully expensed.
Karen
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Posted By Dave Wilson
if you have a company car and only get 'business miles' refunded then about 12p a mile is average.
However if you are doing lots of miles it may be cheaper for the comany to pay total fuel however you will be taxed on that currenty about £2500pa I think at whatever tax bracket you are in, higher rate 40% of 2500 = £1000pa (£83 month)(23% = £47ish).
It all depends on your personal circumstances mate and company car / job related or part of your T&C / mileage covered, whether its fully expensed tax ins etc and wether you pay a contribution to that etc.
take the money option buy a banger and get the 63p a mile if not doing loads of miles.
Only use the car for company business and therefore claim your tax back (dont know if you can do this though)
Anway drive carefully and dont use that phone!
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Posted By Nicki
Andy,
Standard rates for company vehicles are:-
Diesel 9p@mile
Petrol 12p@mile (may be 12.5)
This is where you buy the fuel and claim back for the business mileage you do.
Make sure you keep an accurate log, I know it is a real pain, but if the "tax man" thinks your company is paying for any personnal mileage (even 1 mile) you get hit for fuel tax credit on top of the car tax.
Regards
Nicki
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Posted By Linda Crossland-Clarke
IR do only allow 40p per mile upto 10 thousand miles, after this, it is 25p. I presume that if you get a lower rate, then you have more miles you can do before the tax man comes asking!
The business support team section of the IR are very freindly and offer advice. My local office is 01482 601765 and they aren't scary at all!
Linda
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Posted By Martyn Hendrie
As I understand it the 40p and 20p rates are for someone running their own car and then using it for business purposes. If the car is provided by the employer (company car) lower rates would apply.
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Posted By Martyn Hendrie
Sorry should have been 25p not 20p as stated
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Posted By Stuart Nagle
Andy.
you state that you drive a company car, and hence I would presume that your company reinburse you the cost of the fuel you pay for and claim on expenses.
I drove a 1.9 diesel for 6 years and spent much time working out the milage, fuel and costs. at that time (between 1996 and 2002) fuel costs dipped up and down, but have not really increased....
My calculations confirmed that the cost of milage was in actual fact about 9p per mile, so the company had it right!!
As far as claiming tax relief is concerned, you could only do this if you were using your own car to do your works milage. In which case the sum allowed (40 odd pence a mile I think) is not all for fuel. A percentage is also for up-keep of the vehicle as I recall.
So I don't think your too hard done by, just that you have a shrewd cookie who's on the ball when it comes to fleet management and fuel costs !!
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Posted By Martyn Hendrie
Have a look at "www.the aa.com" > motoring tab where they have information on running costs.
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