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  • FIRST POST
    veronica46
    Self-employment- motoring expenses - what can you claimfor?
    • #1
    • 27th Jul 08, 2:03 PM
    Self-employment- motoring expenses - what can you claimfor? 27th Jul 08 at 2:03 PM
    I am self-employed.
    Can anyone explain to me what I may include in my sole trader accounts in the way of motoring expenses?
    I have a car and of course it needs all the usual, road tax, petrol insurance, Mot, servicing. I partially use it for business purposes, partially for my part-time employed work and partially for leisure.
    When I was in a partnership we used to put all the petrol and servicing bills in the accounts, but I have a feeling this was not correct, but I did not do the accounts in those days.
    I have read about 40p per mile for the 1st 10.000 miles, but is this just for petrol?
    Do you absolutely HAVE to log all your miles? What about if you just put down a very reasonable amount for petrol?
    I rang HMRC but they did not have the ready answer believe it or not!
    I want to be honest to the HMRC, but fair to myself as I think I do not put enough down in my accounts.

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