P87 Mileage allowance form

2

Comments

  • molly1973jade
    molly1973jade Posts: 39 Forumite
    Hi All

    You can fill in the P87 forms for the prev 6 years. so yes you can go back to 02/03 onwards
    The HMRC can send these forms out
    Thanks
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  • mrsyardbroom
    mrsyardbroom Posts: 1,946 Forumite
    Name Dropper First Anniversary First Post
    You can order these forms online from St Austell
    Don't mess with pensioners. :cool:
  • LucyTheDwarf
    LucyTheDwarf Posts: 880 Forumite
    cambb wrote: »
    Hi,
    I've done over 22,000 miles. The way the mileage allowance is set up, the IR suggests your company should be paying 40p a mile up to 10,000 miles. therefore if you get 14p the differance is 26p which you can claim back as tax relief.


    Incorrect. You can only claim back the tax relief on the difference. I.e. 22% for basic rate tax payers, or 40% of that for higher rate.
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  • PaulStafford1984
    PaulStafford1984 Posts: 1 Newbie
    I completed and posted my P87 around 2 months ago, I was wondering if anyone could advise of lead times they have experienced as I am concerned something has gone not quite to plan! As advised on this forum I sent the form to the tax office that deals with my employer and not my closest office.
  • mawallace
    mawallace Posts: 54 Forumite
    First Post First Anniversary Combo Breaker
    HMRC have backlogs on the post at the moment - we have had a five months delay in dealing with post so I would not worry
  • TM1976
    TM1976 Posts: 717 Forumite
    Probably a backlog but it's best to phone them up and ask if they've received it.
  • WillF_2
    WillF_2 Posts: 51 Forumite
    I'm confused.

    Let's assume I drove 10000 miles in the last tax year.

    My employer pays me 25p per mile, i.e. £2500.

    MAR states I can claim up to 40p per mile, i.e. £4000

    So, am I entitled to claim £1500 from HMRC, or is it simply tax relief on the difference?

    If it's just tax relief on the difference, how is this worked out?
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  • 987654
    987654 Posts: 367 Forumite
    It's tax relief on the difference.

    So if you are a 40% tax payer, 40% of £1500 means a £600 refund.
  • WillF_2
    WillF_2 Posts: 51 Forumite
    987654 wrote: »
    It's tax relief on the difference.

    So if you are a 40% tax payer, 40% of £1500 means a £600 refund.

    Thanks.

    This sucks. The company I work for recently reduced the milage rate from 40p to 25p and have told everyone that they can claim the lost 15p per mile back by returning a P87.

    There's gonna be some unhappy people... :rotfl:
    They call me Mr Pig!
  • torty
    torty Posts: 58 Forumite
    hi wilf, first time claimer, what is timescale for submission and received, i have aked my company for expense claims, i.e. mileage completed each month, will this suffice
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