Mileage Allowance Payments - Running Expensive Cars

[TheArchitect]

With the government allowance been 45p for 10k miles and 25p after for work miles. If I were to run a car which cost more than that I understand I can claim the 'costs' back.

So how would that work if I wanted to run in theory a Veyron for my 30k miles I do for work each year? My understanding is I would be liable for the % costs from personal mileage like driving to the office and shops etc. but then I could claim the costs for mileage accrued to do my job back?

How do items like depreciation work out?

[TheArchitect]

What you guys have said above is inline with what I understood previously and wanted to confirm as someone who 'claimed' to know what he was talking about told me, if your paid by your employer over the 45/25ppm that you would need to prove your running costs (to the same amount paid per mile) to avoid BIK tax. However if my employer was unwilling to make the overpayments I could claim the difference back from the HMRC but I would need to prove all costs.

I was assuming this was incorrect but wanted to double check.

Also I am an employee who receives only a mileage allowance payment and no other car payments.

Edited by TheArchitect on Friday 14th August 10:47

[TheArchitect]

PurpleMoonlight said:

All utter rubbish.

What I thought as otherwise we'd all be driving Astons!