Milage allowance?

[Ru78]

Hi,
Just a quick one, but if you use your own car for a work, what do you currently charge the company per mile for it?
Thanks
Ru

[205jsy]

I get 40p per mile going by Hm Revenue

http://www.hmrc.gov.uk/rates/travel.htm

[Eviltad]

I believe I get 40p a mile. although thats prob up to 10k.

[Diablos-666]

40p per mile upto 500miles and then 25p thereafter

HTH

[Blown2CV]

I get 20p a mile, but you can claim the rest up to 40p as tax offset on p87 so it doesn't actually matter what you get really.

[R1chardP]

40p per mile for me too - don't know if there is an upper limit on mileage though

[hornetrider]

It's 40p up to 10k and 25p thereafter.

[Bullett]

You can be paid higher rates but it will be liable for tax over the 40ppm.

[RDE]

Blown2CV said:

I get 20p a mile, but you can claim the rest up to 40p as tax offset on p87 so it doesn't actually matter what you get really.

I get 18ppm for the journeys i've been doing recently. What proof do you need to provide of the mileage/amount spent to HMRC? All my receipts have gone when I submitted expenses.

[Motown Junk]

43ppm but there's an upper limit of how many miles pa, then it drops to 20 something - never done enough miles to know.

[rastamanblues]

26ppm for the first 10k, then 16ppm for everything after 10k.

[Blown2CV]

RDE said:

Blown2CV said:

I get 20p a mile, but you can claim the rest up to 40p as tax offset on p87 so it doesn't actually matter what you get really.

I get 18ppm for the journeys i've been doing recently. What proof do you need to provide of the mileage/amount spent to HMRC? All my receipts have gone when I submitted expenses.

I have never needed proof, but all I would have is expense claim forms anyway. You can backdate 6 years. I dunno how many miles you do, but it could be a significant amount of money.

[Ved]

hornetrider said:

It's 40p up to 10k and 25p thereafter.

same here.

I still find it a joke it hasn't gone up but hey.

[spurs-442]

On a side subject to this - not sure if anyone else is aware, you can claim 5 or 10ppm for being a passanger on business trips. not sure of the limit though.

ETA - Just re-read the link posted above which mentions it.

Edited by spurs-442 on Wednesday 30th June 17:03

[Glosphil]

Blown2CV said:

I get 20p a mile, but you can claim the rest up to 40p as tax offset on p87 so it doesn't actually matter what you get really.

Of course it matters. If you get less than 40p you can only claim back the tax you would paid on the difference. So if you get 25p, for example, you can claim back the tax paid on 15p (3p for lower rate tax payer and 6p for upper rate tax payer). Would you rather have 40p/mile or 28p/mile (25p + 3p)? Equally, if you get more than 40p you will pay tax on the excess.

Edited by Glosphil on Wednesday 30th June 17:02

[B3njamin]

My previous employer paid 17 pence per mile...

[Fox-]

58p a mile and 2p a mile per passenger.

[joebongo]

If you do this p87 claim does it force you into self-assessment? I work in the NHS and am on PAYE and would like to avoid doing that stuff.

Cheers,

Joe

[Fox-]

joebongo said:

If you do this p87 claim does it force you into self-assessment? I work in the NHS and am on PAYE and would like to avoid doing that stuff.

Cheers,

Joe

Surely you get 50-60p a mile as your rate anyway so no need?

[RDE]

Blown2CV said:

RDE said:

Blown2CV said:

I get 20p a mile, but you can claim the rest up to 40p as tax offset on p87 so it doesn't actually matter what you get really.

I get 18ppm for the journeys i've been doing recently. What proof do you need to provide of the mileage/amount spent to HMRC? All my receipts have gone when I submitted expenses.

I have never needed proof, but all I would have is expense claim forms anyway. You can backdate 6 years. I dunno how many miles you do, but it could be a significant amount of money.

Thanks, I had no idea about this. This time next year I could be millionaires!