Excel help

[Guv10]

Well, not just excel a bit of maths help!!

Recently started a new job where I get a "jobs need car" I get 11p per mile.

Wanted a quick spreadsheet with a formula that if I enter the petrol cost and how many miles the trip is it would work out what my mpg would need to be to break even.

I'm sure it's simple enough but struggling.

Cheers

[zollburgers]

You don't need the number of miles. You know the p/l and the p/m and can work out m/l, which can then be converted into mpg.

[ging84]

i think you are over complicating it
if the amount you get per mile is a constant, doesn't matter if you are going 1 mile or a million miles
at 11p per mile

£1.00 per L, you need to get 40mpg
£1.10 per L, you need to get 45mpg
£1.25 per L, you need to get 50mpg
£1.35 per L, you need to get 55mpg

[audi321]

As said, you are a) Seriously over complicating things and b) The number of miles covered is irrelevant.

But to answer your question, in Cell A1 put the price per litre and in B1 type =sum(A1/0.219969/0.11)

[sgrimshaw]

Where an employer pays less than the HMRC mileage rates for business use of a private car you used to be able to claim the difference against you tax liability.

It used to make a significant difference.

I'll check if the rules have changed.

[sgrimshaw]

OP .. I checked and the rules are still the same.

Google "Mileage Allowance Relief"

[Guv10]

Guys, thank you. Need a serious brush up on my maths/excel skills!!

It's not a private car I don't think. It's a job needs car. I have to pay tax on it each month. I don't get paid for personal mileage either

[sgrimshaw]

Just interested .....

"Job needs car" is not a term which I am familiar with (and nor is Google)

Do you mean you get taxed on the car as a benefit, and they are paying for everything except fuel?

You are just compensated 11p per mile for each business mile?

[Guv10]

Yes I get taxed £88 a month. That covers insurance, tax, repairs etc... and then I get 11p per mile

[audi321]

Job needs car is just an internal phrase I would think. To all intents and purposes this is a company car.

In our company it just means that the job grade doesn't automatically entitle them to a company car but the geographical area or job that individual carries out means a company car is needed.

[Guv10]

Yeah that's pretty much it. Not sure I can claim back tax on mileage though