Can my company make me use my personal car for work?
Discussion
Hmmmm, just been doing some reading on this.
I can find out proper figures but I estimate I (on average) drive 110 miles 2 times a week so about 11,400 a year and they pay me 40p a mile (£4576/yr).
Am I right in thinking that (assuming you can back-date) I can claim for 2011/12 and 2012/13 (this is when the 45p allowance came into effect?
Then given the figures above I would be looking at: 11,400 * .05 (difference from 40p to 45p) = £570 *.4 (40% tax rate) = £228 rebate per year?
If so... AWESOME and I owe you guys a beer for the heads up!
Sorry for taking the thread away from it's original purpose - I hope you get the situation sorted out OP, I was in a similar(ish) situation a few years ago... not really relevant to you though but suffice to say I've shared your pain!
Rgds,
Sean
I can find out proper figures but I estimate I (on average) drive 110 miles 2 times a week so about 11,400 a year and they pay me 40p a mile (£4576/yr).
Am I right in thinking that (assuming you can back-date) I can claim for 2011/12 and 2012/13 (this is when the 45p allowance came into effect?
Then given the figures above I would be looking at: 11,400 * .05 (difference from 40p to 45p) = £570 *.4 (40% tax rate) = £228 rebate per year?
If so... AWESOME and I owe you guys a beer for the heads up!
Sorry for taking the thread away from it's original purpose - I hope you get the situation sorted out OP, I was in a similar(ish) situation a few years ago... not really relevant to you though but suffice to say I've shared your pain!
Rgds,
Sean
Gr44 said:
Then given the figures above I would be looking at: 11,400 * .05 (difference from 40p to 45p) = £570 *.4 (40% tax rate) = £228 rebate per year?
45p only applies to the first 10K miles. Over that it’s 25p. Your additional 15p is taxable – yay!So it’s £500 for the first 10K, then 15p*1140 = £171 so the difference is £329, which at 40% is £131.60.
Yes you can backdate it. Sometimes it's worth staying out of HMRC's way though. I would work on trying to get your employer to increase the mileage payment to 45p.
Gassing Station | General Gassing | Top of Page | What's New | My Stuff