How to be a petrol dieter

FireWyrm

ani_26 wrote: »

Now, that's the bit i find frustrating, as i'm only classed as self employed, when it suits. By rights, i shouldn't have to pay tax on expenses, i.e. mileage. As a matter of interest, I wonder if mp's pay tax on their expenses?

Mmmbbbwwwaaahahahahahahahaha!:rotfl:

MPs paying taxes like ordinary people....

Please stop...I can't breathe, whatever next? The pope converting to Protestantism?

sistafromanothermista

FireWyrm wrote: »

Mmmbbbwwwaaahahahahahahahaha!:rotfl:

MPs paying taxes like ordinary people....

Please stop...I can't breathe, whatever next? The pope converting to Protestantism?

.......:rotfl:..........

sisbod

incidently your employer should provide you with a p11d which highlights the number of miles and the amount paid to you comes around the same time as your p60. If you are willing to wait for them to give it to you after a little push it has all the info you need to provide!!! and as to the handing in receipts it was a requirement by tax office for businessess to provide evidence of paying out mileage to employers (or so our local council told us when I worked for them!)
I wouldnt worry about the employer claiming the tax. The system is simply mileage x40p minus all payments made by your employer if it goes over the 10,000 miles it drops to 25p I think! but pish for the p11d

katsu

sistafromanothermista wrote: »

Plus (sorry) my hubby just said that surely if work have claimed back the vat/ tax on it then i surely won't be able to?

You (He) are confusing VAT and income tax. HMRC's 0.45p/mile is not to do with VAT, it is for the costs (fuel, servicing, tyres etc) of running your car to drive 1 mile on business.

If you drive 10 miles then HMRC says you can be given £4.50 (.45x10) without paying any income tax on the £4.50. Where your employer pays less than the £4.50 then you can claim the difference from HMRC as a tax rebate. You claim at the end of each tax year for the past 12 months (so you can now claim for the year from 6 April 11 to 5 April 12).

Your employer may be using the VAT receipts from your fuel to make a VAT claim but that is separate (and is something you could not claim yourself).

Hope this is some help in clarifying.

sistafromanothermista

Hi, a bit. How do i work out what i'm owed back then? i thought it would be 20% off the difference?

katsu

What you are eligible to claim is 0.45p/mile for every business mile minus the amount you have already received.

So if you drove 10 miles in the year you would be entitled to £4.50. If your employer paid you at 22p/mile then they would have paid you £2.20. £4.50-£2.20 = £2.30. You should therefore either have your tax code adjusted by £2.30 or get the £2.30 as a refund.

I do not believe it is accurate that you would only get your tax rate % of it back (ie 20% if you are paying basic rate), as that way you would not receive the full 0.45p/mile. I would therefore expect that you will receive the full £800, and that it is not going to be taxed, as it isn't income.

Honestly, if you are still in doubt either just call HMRC or fill out the form and then wait for a nice surprise

=booboo=

Does anyone know if i can apply for the refund if i recieve a monthly "Car Allowance" along with my salary?

sistafromanothermista

Honestly, if you are still in doubt either just call HMRC or fill out the form and then wait for a nice surprise

I will do fingers crossed

sistafromanothermista

Bumped thread

Ultrasonic

(Just read this as thread bumped - poster may be long gone but let's try...)

billinghamfan wrote: »

Just a quick point the dropping your speed to 60mpg isn't actually correct on all cars I drive an old BMW and it is actually more fuel efficiant at around 80mpg (obviously can only do 70mpg).

So check details with your car manufactor!

Assuming the figures in that post should all be mph not mpg, how did you reach this conclusion? Provided your car can be driven in top gear at 60 mph (and I bet it can) I seriously struggle to believe this is true. See for example:

http://www.whatcar.com/car-news/fuel-economy-making-every-gallon-count/the-test-findings/233124

(The graph plots mpg vertically against speed horizontally. For all cars tested, the faster you go the worse the economy.) And this:

http://www.whatcar.com/car-news/fuel-economy-making-every-gallon-count/higher-gear--higher-mpg/233124

Note this second link in talking about a Passat driven at 40 mph in 6th gear, which is why I doubt you can't be in top gear at 60 mph.

Edit: another graph here (including data for what I think is a BMW with a fair size engine):

http://www.mpgforspeed.com/