Fuel card and claiming tax relief
Discussion
Hi, Hopefully someone can assist as I've received different answers from HMRC on the phone.
I use my own personal car for work which my employer provides a fuel card for. Fuel card is only for business use and I'm careful to ensure no BIK implications for last 2 years. If fuel is used for personal use the company is reimbursed. I receive a car allowance which is taxed as normal salary.
Does anyone know if I'm able to claim tax relief up to 45p/25p. My business miles are approx 25k a year
An older post from 2013 suggests it is possible, is this still the case?
http://www.pistonheads.com/gassing/topic.asp?h=0&f=23&t=1294014&i=20
"IF you have a company car OR own car, and a fuel card for business mileage only - in this scenario, assuming you pay for all your petrol on the card, you would then have to reimburse your employer for your personal mileage spend (either an agreed set amount, or calculated from your mileage records). In this case, since you are paying your personal fuel there is no 'benefit in kind' and there's no additional tax for you to pay for having that fuel card. IF you have your own car you may be due a rebate since you will only be receiving the value of the business fuel and not the 45p HMRC rate for first 10k of business, which accommodates for maintenance etc."
Thanks
Mark
I use my own personal car for work which my employer provides a fuel card for. Fuel card is only for business use and I'm careful to ensure no BIK implications for last 2 years. If fuel is used for personal use the company is reimbursed. I receive a car allowance which is taxed as normal salary.
Does anyone know if I'm able to claim tax relief up to 45p/25p. My business miles are approx 25k a year
An older post from 2013 suggests it is possible, is this still the case?
http://www.pistonheads.com/gassing/topic.asp?h=0&f=23&t=1294014&i=20
"IF you have a company car OR own car, and a fuel card for business mileage only - in this scenario, assuming you pay for all your petrol on the card, you would then have to reimburse your employer for your personal mileage spend (either an agreed set amount, or calculated from your mileage records). In this case, since you are paying your personal fuel there is no 'benefit in kind' and there's no additional tax for you to pay for having that fuel card. IF you have your own car you may be due a rebate since you will only be receiving the value of the business fuel and not the 45p HMRC rate for first 10k of business, which accommodates for maintenance etc."
Thanks
Mark
Yes. Keep a record of your business miles
On your tax return the cash value of fuel from your P11D will go in benefits section
In the business expenses notes list car, reg, mileage done at 45p and 25p put the total cost as expense
You get tax relief on any difference and any refund in your bank within days if you do it online
HMRC may then re-code you and build all these expenses into your tax code. Unless you really know you will do the same miles next year, I would call and ask them to adjust your tax code down again. My business miles are variable, id sooner not be under pressure to do so many miles just to make up the expense. I prefer to know HMRC owe me a few quid. It motivates me to do my return each year if there is a bonus to look forward to
On your tax return the cash value of fuel from your P11D will go in benefits section
In the business expenses notes list car, reg, mileage done at 45p and 25p put the total cost as expense
You get tax relief on any difference and any refund in your bank within days if you do it online
HMRC may then re-code you and build all these expenses into your tax code. Unless you really know you will do the same miles next year, I would call and ask them to adjust your tax code down again. My business miles are variable, id sooner not be under pressure to do so many miles just to make up the expense. I prefer to know HMRC owe me a few quid. It motivates me to do my return each year if there is a bonus to look forward to
Gents, I wonder if you could advise myself in a similar scenario to the above -
I take a car allowance taxed as salary. Get a company fuel card to cover ALL of my fuel usage.
Am I due tax relief on my business miles (taxed at 40% on the fuel card).
I have kept a note of dates and mileage in the hope this the case.
I take a car allowance taxed as salary. Get a company fuel card to cover ALL of my fuel usage.
Am I due tax relief on my business miles (taxed at 40% on the fuel card).
I have kept a note of dates and mileage in the hope this the case.
j8bbk said:
Gents, I wonder if you could advise myself in a similar scenario to the above -
I take a car allowance taxed as salary. Get a company fuel card to cover ALL of my fuel usage.
Am I due tax relief on my business miles (taxed at 40% on the fuel card).
I have kept a note of dates and mileage in the hope this the case.
Yes - if genuine business miles.I take a car allowance taxed as salary. Get a company fuel card to cover ALL of my fuel usage.
Am I due tax relief on my business miles (taxed at 40% on the fuel card).
I have kept a note of dates and mileage in the hope this the case.
Bit late to this, but I'll comment for future googles.
Yep, I have a fuel card. I put ALL my fuel on it, personal and business. I log my business mileage.
The fuel card spend appears on my P11D as Vouchers, not I the fuel section. HMRc see it that I have a BIK of however much I spent on the card and tax me on the lot.
I then claim back the business miles at 45/25p rates.
Yep, I have a fuel card. I put ALL my fuel on it, personal and business. I log my business mileage.
The fuel card spend appears on my P11D as Vouchers, not I the fuel section. HMRc see it that I have a BIK of however much I spent on the card and tax me on the lot.
I then claim back the business miles at 45/25p rates.
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