Business mileage rates

[mogul]

An individual can claim business miles at the following rates during any one tax year (either in full from their company or by way of their tax code the following year)

1st 10000k miles - 40p per mile
10001 miles and above - 25p per mile

When were these figures set and will the government ever change them or have they forgotten that the cost of running a car dos actually increase...

[Eric Mc]

They are almost ten years old. They could do with resetting but in the current anti-motoring political enviromnment I don't see that happening.

Although the day to day running costs of motoring have increased year on year, the capital cost of acquiring a car has actually DECREASED in the past ten years (in real terms) so the Government will argue that, on the whole, the 40p/25p rates are still fairly realistic.

[mogul]

Eric Mc said:

They are almost ten years old. They could do with resetting but in the current anti-motoring political enviromnment I don't see that happening.

Although the day to day running costs of motoring have increased year on year, the capital cost of acquiring a car has actually DECREASED in the past ten years (in real terms) so the Government will argue that, on the whole, the 40p/25p rates are still fairly realistic.

The current government would argue the sky is orange...........

Unless the conservatives suggest it's blue, then old Gordy will change his mind and it's blue again.

They must think we're all

[Mattt]

I read that AMAPs would be reviewed at the 2008 budget, although they may just say they will be reviewed in the 2009 budget.

Anyone care to speculate? I can see a CO2 weighting coming in....