Paddy Galore! Posted April 9, 2013 Report Share Posted April 9, 2013 hi gents, i've started sorting out stuff for my tax return and i'm missing some fuel receipts. i was wondering if i can just claim a mileage allowance instead, do i need to be a ltd company to do this or can any self employed person do it? also how much is the allowance considering i've done a shade over 12k this year? cheers, paddy. Quote Link to comment Share on other sites More sharing options...
955i Posted April 9, 2013 Report Share Posted April 9, 2013 I claim an allowance, have never submitted fuel receipts to the accountant. She takes my annual mileage and works out a percentage that I can claim for business. Hope that helps Chris Quote Link to comment Share on other sites More sharing options...
Paddy Galore! Posted April 9, 2013 Author Report Share Posted April 9, 2013 I claim an allowance, have never submitted fuel receipts to the accountant. She takes my annual mileage and works out a percentage that I can claim for business. Hope that helps Chris yes mate, thanks, you mention you claim a percentage though, do you use your motor for private use aswell? could i claim the full amount for a commercial vehicule? Quote Link to comment Share on other sites More sharing options...
Alex C Posted April 9, 2013 Report Share Posted April 9, 2013 HMRC set the mileage allowance at 45 pence per mile for the first 10,000 miles and 25 pence per mile thereafter. I am a limited co but never keep petrol reciepts, just a running tally of business mileage. Hope this helps Quote Link to comment Share on other sites More sharing options...
Paddy Galore! Posted April 9, 2013 Author Report Share Posted April 9, 2013 Quote Link to comment Share on other sites More sharing options...
SNS Posted April 9, 2013 Report Share Posted April 9, 2013 For employees using their own cars its 45p per mile for the first 10000 miles in the tax year and 25p thereafter. Am sure you could use the same as self employed. You would need some receipts to recover VAT though. I cant remember the element of these payments you can treat as input VAT but a few mins on Google should get you the answer - I think a lot of people use the figures on the AA website Quote Link to comment Share on other sites More sharing options...
ME Posted April 9, 2013 Report Share Posted April 9, 2013 (edited) For business miles I claim 45p a mile up to 10000 miles and 25p thereafter. I do however keep a spreadsheet for every month and account for every mile listing where I went and what for. If you have an HMRC investigation you will be made to show bank statements with withdraws of cash to show that you bought the fuel for the miles. I know another forum member that fell foul of this and had to pay the money back for "over zealous" mileage claims One of our previous accountants suggested we got bikes, the return is pretty good at 20p a mile! http://www.hmrc.gov.uk/rates/travel.htm Edited April 9, 2013 by ME Quote Link to comment Share on other sites More sharing options...
Paddy Galore! Posted April 9, 2013 Author Report Share Posted April 9, 2013 For business miles I claim 45p a mile up to 10000 miles and 25p thereafter. I do however keep a spreadsheet for every month and account for every mile listing where I went and what for. If you have an HMRC investigation you will be made to show bank statements with withdraws of cash to show that you bought the fuel for the miles. I know another forum member that fell foul of this and had to pay the money back for "over zealous" mileage claims thanks chap, the mileage is a simple one really matt, it can be checked from mot certs, i don't really go into town in it as it doesn't fit in the car parks, that's what the wifes car is for, do i have to be a ltd company to claim it though? Quote Link to comment Share on other sites More sharing options...
955i Posted April 9, 2013 Report Share Posted April 9, 2013 yes mate, thanks, you mention you claim a percentage though, do you use your motor for private use aswell? could i claim the full amount for a commercial vehicule? Private use as well. I let the accountant work it out, but I do keep a spread-sheet of all project mileage in case I ever need it. Quote Link to comment Share on other sites More sharing options...
Paddy Galore! Posted April 9, 2013 Author Report Share Posted April 9, 2013 Private use as well. I let the accountant work it out, but I do keep a spread-sheet of all project mileage in case I ever need it. thanks bud, by the way, finally got some cardboard tube big enough to send that kite up in, i'll post it weekend mate. Quote Link to comment Share on other sites More sharing options...
Oli Posted April 9, 2013 Report Share Posted April 9, 2013 You also need to take into consideration where the mileage is to and from, if you are working In the same place for ( I think ) 2 years you can no longer claim mileage to and from this location, if you get a new contract somewhere else entirely the clock resets. Quote Link to comment Share on other sites More sharing options...
955i Posted April 9, 2013 Report Share Posted April 9, 2013 thanks bud, by the way, finally got some cardboard tube big enough to send that kite up in, i'll post it weekend mate. Nice one mate, look forward to it Quote Link to comment Share on other sites More sharing options...
Paddy Galore! Posted April 9, 2013 Author Report Share Posted April 9, 2013 You also need to take into consideration where the mileage is to and from, if you are working In the same place for ( I think ) 2 years you can no longer claim mileage to and from this location, if you get a new contract somewhere else entirely the clock resets. i'm all over the place mate. Quote Link to comment Share on other sites More sharing options...
Mk1 Man Posted April 9, 2013 Report Share Posted April 9, 2013 can you claim for mileage and put the fuel receipts in as well or is that taking the pee? Quote Link to comment Share on other sites More sharing options...
Paddy Galore! Posted April 9, 2013 Author Report Share Posted April 9, 2013 can you claim for mileage and put the fuel receipts in as well or is that taking the pee? erm, just a bit, might be in for some trouble if i ever got audited. not really worth the trouble. Quote Link to comment Share on other sites More sharing options...
ColinF Posted April 9, 2013 Report Share Posted April 9, 2013 Self employed people can put all their motor expenses through their books, and then add back any private use, by working out business and private miles as a percentage of the miles covered that year. Or, claim their business miles at the HMRC approved rates as mentioned above. Unfortunately, you can't do both. Either way you should keep a log of your business miles in case HMRC want to see them, which they will if you have any type of investigation. Business miles don't include travel from home to your office or other business premises, but if you work from home, business trips start from when you leave home Quote Link to comment Share on other sites More sharing options...
Oli Posted April 9, 2013 Report Share Posted April 9, 2013 i'm all over the place mate. Tell me about it...The ******* had me driving to Cardiff today for a f2f meeting, 8 hours driving for a 6 hour meet, ah well at least I make some money off it... Quote Link to comment Share on other sites More sharing options...
leeds chimp Posted April 10, 2013 Report Share Posted April 10, 2013 I claim the mileage at 45p just easier to work out for me Quote Link to comment Share on other sites More sharing options...
LondonLuke Posted April 10, 2013 Report Share Posted April 10, 2013 (edited) Worth remembering that as a director of a limited company you can end up liable for company car tax if the vehicle is in the name of the business and you have use of it for personal miles Edit - I'm not an accountant so speak to one before making any decisions Edited April 10, 2013 by LondonLuke Quote Link to comment Share on other sites More sharing options...
Oli Posted April 10, 2013 Report Share Posted April 10, 2013 Worth remembering that as a director of a limited company you can end up liable for company car tax if the vehicle is in the name of the business and you have use of it for personal miles Edit - I'm not an accountant so speak to one before making any decisions yeah i looked at getting a lease car through my co. tbh its a very expensive way of doing things, much better to just declare divs and pay for it personally even if it bumps you over the higher rate threshold Quote Link to comment Share on other sites More sharing options...
LondonLuke Posted April 10, 2013 Report Share Posted April 10, 2013 yeah i looked at getting a lease car through my co. tbh its a very expensive way of doing things, much better to just declare divs and pay for it personally even if it bumps you over the higher rate threshold Couldn't agree more, exactly what I do. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.