We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
tax mystery
Options
arcadian_dream
Posts: 7 Forumite
in Cutting tax
Hi All,
If I was a self-employed courier driving 45,000 business miles a year, that's £12,750 mileage allowance (based on 40ppm for 10k then 25ppm for the rest). If my tax bill was less than that amount, would I end up having to pay no tax? Or is there a limit to how much mileage one can claim?
Thank you.
If I was a self-employed courier driving 45,000 business miles a year, that's £12,750 mileage allowance (based on 40ppm for 10k then 25ppm for the rest). If my tax bill was less than that amount, would I end up having to pay no tax? Or is there a limit to how much mileage one can claim?
Thank you.
0
Comments
-
show me a man who pays a lot of tax and I'll show you a rich manThe only thing that is constant is change.0
-
It doesn't equate to a £12,750 mileage allowance. It equates to a tax saving of 20% of that for a basic rate payer.0
-
There is no limit but if it's costing you more that you make what is the point?0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.2K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.7K Spending & Discounts
- 244.2K Work, Benefits & Business
- 599.3K Mortgages, Homes & Bills
- 177K Life & Family
- 257.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards