The budget will Approved Mileage Allowance Payments go up?

[Pesty]

"Employees using their own cars for business mileage can be paid a tax– and national insurance–free mileage allowance under the Approved Mileage Allowance Payments (AMAP)"

Will the Approved Mileage Allowance Payments go up? they should but will they?

They have been 40p and 25p per mile for years and the price for deisel has almost doubled. In fact the cost of everything else has gone up as well.

[Puggit]

[MKnight702]

It's even better if you have a company car and get refunded fuel costs at the 12p per mile that the Revenue generously allow.

[Eric Mc]

Pesty said:

"Employees using their own cars for business mileage can be paid a tax– and national insurance–free mileage allowance under the Approved Mileage Allowance Payments (AMAP)"

Will the Approved Mileage Allowance Payments go up? they should but will they?

They have been 40p and 25p per mile for years and the price for deisel has almost doubled. In fact the cost of everything else has gone up as well.

The mileage rates cover all motoring costs, not just fuel. For many years the fact that the mileage did not need to rise could be argued on the basis that the capital cost of cars had fallen even though fuel costs were rising.

I think the time has now come for these mileage rates to be reset.

[Pesty]

So do I, but I have thought that for years

But is it likely?

I take it puggit thinks no

[thinfourth2]

But inflation is less then 4% why would they?

[Eric Mc]

Who knows.

I seldom speculate on budgets. We'll know soon enough.

[Pesty]

I was hoping somebody would post something like

"yes of course pesty it will go up 15ppm its automatic once fuel rises 20%"

I never knew I was an optimist

[Eric Mc]

We can post what we like. Osborne will do what he's going to do.

[Derek Smith]

Eric Mc said:

We can post what we like. Osborne will do what he's going to do.

Breaking news: Man comes up with reason that renders all forums redundant.

[Eric Mc]

Derek Smith said:

Eric Mc said:

We can post what we like. Osborne will do what he's going to do.

Breaking news: Man comes up with reason that renders all forums redundant.

I am the last person to want to squash debate and discussion - but working in the accountancy world I do find pre-budget debate and speculation a bit tedious.

A POST budget debate is always much more interesting.

[Adrian W]

but you can claim any amount you want,it is up to the employer, over the revenue rates and they will just tax it

Edited by Adrian W on Tuesday 22 March 09:20

[Bing o]

Eric Mc said:

I am the last person to want to squash debate and discussion - but working in the accountancy world I do find pre-budget debate and speculation a bit tedious.

A POST budget debate is always much more interesting.

Well, why not wait for that thread on Wednesday afternoon, Einstein?

[Eric Mc]

Bing o said:

Eric Mc said:

I am the last person to want to squash debate and discussion - but working in the accountancy world I do find pre-budget debate and speculation a bit tedious.

A POST budget debate is always much more interesting.

Well, why not wait for that thread on Wednesday afternoon, Einstein?

That's what I'm doing, Newton.

[Bing o]

Eric Mc said:

Bing o said:

Eric Mc said:

I am the last person to want to squash debate and discussion - but working in the accountancy world I do find pre-budget debate and speculation a bit tedious.

A POST budget debate is always much more interesting.

Well, why not wait for that thread on Wednesday afternoon, Einstein?

That's what I'm doing, Newton.

Take my advice - watch out for apples.

[oyster]

Adrian W said:

but you can claim any amount you want,it is up to the employer, over the revenue rates and they will just tax it

Edited by Adrian W on Tuesday 22 March 09:20

Absolutely.
If your mileage rate isn't high enough then blame your employer.

Given the state of the public finances, why should taxpayers subsidise a cost that should be borne by employers?

[RYH64E]

oyster said:

Absolutely.
If your mileage rate isn't high enough then blame your employer.

Given the state of the public finances, why should taxpayers subsidise a cost that should be borne by employers?

It is the reimbursment of an expense not the payment of a wage, no subsidy involved.

[Eric Mc]

Bing o said:

Eric Mc said:

Bing o said:

Eric Mc said:

I am the last person to want to squash debate and discussion - but working in the accountancy world I do find pre-budget debate and speculation a bit tedious.

A POST budget debate is always much more interesting.

Well, why not wait for that thread on Wednesday afternoon, Einstein?

That's what I'm doing, Newton.

Take my advice - watch out for apples.

According to Newton, Apples are going down.

[andyps]

oyster said:

Adrian W said:

but you can claim any amount you want,it is up to the employer, over the revenue rates and they will just tax it

Edited by Adrian W on Tuesday 22 March 09:20

Absolutely.
If your mileage rate isn't high enough then blame your employer.

Given the state of the public finances, why should taxpayers subsidise a cost that should be borne by employers?

Problem is that my employer is me, therefore the 40p is what I can claim against tax for business use of the car. In reality it probably just covers what mine cost now, but I have a 13 year old Fiat Coupe on which I carry out most of the maintenance myself and which has probably reached a point at which it can't really depreciate much more as the components are worth the same as the whole car.

I have been self employed for over 12 years now and when I started it cost me approximately £10 per 100 miles in fuel in a car which had similar average mpg to the current Fiat. When I filled up on Saturday at Sainsbury it had cost me £22 per 100 miles on that tank. But I can still only claim 40p so the contribution that makes towards other elements of running the car has reduced substantially.

It would be great to see it increased, but I think that it is just as likely I will see a pig fly past the window.

[Pesty]

Somebody asked the question on radio 4 today but they skipped over it they were making plenty of speculation on other things but not this.