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maths help please

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muddyjames:
it is for a charity so dont like to claim lots on some occasions! ;)

Yoshi:
Its not done on engine size anymore.

Its done on the type of vehicle.

For example a car/4x4 gets 40p per mile for the first 10,000 miles, then 25p per mile for the rest.

Just had to go through all this with her in doors, as she gets mileage.

Even if you are paid for your mileage by your employer you can still claim the difference between that and the 40p as tax relief.

However if you are paid over the 40p per mile by your employer then the difference is taxable (i.e. if you are paid 50p per mile then 10p of that is taxable as its over the allowance).

Llanigraham:

--- Quote from: V8MoneyPit on April 21, 2010, 09:55:15 ---If you are charging it as expenses, you should add a fair chunk on top of the fuel cost. The tax people have specific rates per mile that include wear and tear. IIRC, based on engine size, a 3.5 V8 can be charged at nearer 50p a mile.

--- End quote ---

Tax Office allow you to claim 40p a mile, anything over that is profit and you are taxed on it. Subject to a mileage limit as well, but I can't rememeber what that is.

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