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Posted By Paul Patrick Gildernew
Hi, This question is related to a change in the companies transport safety policy
THey are now proposing paying only for business miles for company cars, the car will be used when travelling to sites etc to carry out audits etc
Can anyone tell me what is the going rate for business miles in private industry such as construction
Thanks
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Posted By Paul Patrick Gildernew
Thanks for the suggestion but don`t fancy cycling 150 miles every day and besides have to go on a motorway (100 miles) and cycles are not permitted.
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Posted By gham
http://www.hmrc.gov.uk/m...ls/eimanual/EIM31360.htm
I think the allowance you can claim back is 40p per mile for the first 10000 miles per year and then 20 odd p(total guess) a mile after that
If your employer pays you less you can claim the difference from the IR if they pay you more and you make a "profit" from it you will get taxed accordingly. You can incorporate this into your self assessment which you can fill in online, you will also get tax releif every month if you use your own car for business use, speak to an accountant or contact you friendly local IR customer service office
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Posted By Paul Leadbetter
Paul
Is the rate to cover only petrol or all expenses, (servicing, insurance, etc.)? My 1.8 l Accord costs about 11p per mile in petrol but I claim 40p per mile (up to 10,000 miles) to account for other expenses. This, I think, is the maximum allowed by HMRC.
Paul
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Posted By Pete48
Paul, the figures that gham has posted are the maximum allowable figures for payment tax free for use of own vehicle. If you are paid above this, you will be taxed at the relevant rate on the difference.
There are different rules for company cars. The revenue, same web site, produce "advisory fuel rates" for employers who reimburse for business mileage.
These are notably lower than the 40p figure because you are not charged with the on going maintenance etc. Companies will refer to this guidance to ensure their tax liability including NI contributions is clear. If they pay more, they attract tax liability to the company including NI contributions. The revenue guidance is quite clear that they believe the values reflect the "norm". I have not checked but I would guess it is in the range of 12-15p per mile.
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Posted By Robert Leonard
Paul,
As its a company car (therefore all expences are paid for) these are the kind of rates you would be looking at (i think this is from the Inland Revenue, but its what we adopted)
Engine Size Petrol Diesel LPG
1400cc or less 11p 10p 7p
1401cc to 2000cc 13p 10p 8p
Over 2000cc 18p 14p 11p
Regards
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Posted By Paul Patrick Gildernew
Thanks for all the reponses,
the hmrc link cleared it up for me and i will have a look into the other tax issues around this.
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Posted By Howard
Can anyone clarify whether the rules are the same if you recieve a car allowence rather than take the company car.
ta
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