Mileage Allowance 25p how do I claim the rest ?

Hawksmuir

I'm looking for advice here.

I use my own car for company business, my company pay me 25p per mile, the remaining 15p is down to me to claim from the IR.

Does anyone know how I go about claiming this ?

trevormax

Keep a record of the mileage you do and at the end of the tax year, you need to fill in a form P87 and send this to HMRC (http://www.hmrc.gov.uk/forms/p87.pdf).

You should note that you are not claiming 15p per mile from HMRC, you are in fact claiming the tax back on the 15p per mile. If you are a basic rate tax payer and you are claiming for 5,000 miles, you will be due a refund as follows:

5,000 x £0.15 x 20% = £150 refund.

Also, you will only be able to claim for the first 10,000 miles as after that there is no difference between what your employer is paying and the approved HMRC rates.

TM1976

True, you can claim for each of the last 6 tax years, but you must claim for 03/04 by 31 Jan 2010.

There is a calculator to work this out here: http://www.expensestaxrebate.co.uk/

chalkie99

The answer has already been well explained in the posts above and this site is not for advertising your own business.