VAt for petrol

hwalkerh

Hi just want to check i am working this out right..

We claim petrol expenses at the business rate 45p per mile. Thats fine.

Now i am working out how much Vat can be claimed back on the milege. I have worked it out as
444miles at 26p (due to car engine size) =£115.44. Then Vat at 20% of this is £19.24.
so we can claim back £19.24 through our Vat return.

Does that seems correct before i submit my return. I get confused with Vat on petrol everytime

phill99

I'm happy to be corrected, but surely you can only claim back the VAT on the amount you have actually spent, ie the receipt cost not the 'allowance value'

Colin2511

hiya, - sorry but its wrong - when we asked we were told we could claim back the vat on the fuel element of the mileage ie 13p - so its 1/6 of 13p

.................we have been claiming it this way since the VAT lady told us this- but if someone comes up with a different difinitive answer then I would be more than happy as it would mean I have underclaimed for years and will up it) :rotfl:

phill99

Colin2511 wrote: »

hiya, - sorry but its wrong - when we asked we were told we could claim back the vat on the fuel element of the mileage ie 13p - so its 1/6 of 13p

.................we have been claiming it this way since the VAT lady told us this- but if someone comes up with a different difinitive answer then I would be more than happy as it would mean I have underclaimed for years and will up it) :rotfl:

That makes sense as the 45p mileage allowance covers all of the cars running costs, not just petrol.

hwalkerh

Yes I think i am trying to work out the vat on petrol only part so the expense is 45p per mile but the fuel element is 26p (over 2000cc)

This is the info on the HRMC website i am using
http://www.hmrc.gov.uk/cars/advisory_fuel_current.htm

so should i be using 13p or is the 26p ok?

hwalkerh

hwalkerh wrote: »

This is the info on the HRMC website i am using
http://www.hmrc.gov.uk/cars/advisory_fuel_current.htm

Or maybe that isn't relevant as it isn't a company car.
Where on the HMRC website does it say 13p?

confused!?!?

Colin2511

hi, this is the figure she gave me, I have just put a quick google search in (in case this figure had increased, and I had not noticed ) but they seem to agree on 13p

http://www.is4profit.com/business-advice/finance-and-money/business-mileage-vat-fuel-recovery.html

hwalkerh

Thanks - that website states that it is based on fuel rate from 1st July 2008 and puts links to the fuel advisory rate that i went to on the HMRC website that indicates it is more.

When were you told 13p?
The archive indicates that it has gone up from there since 2011
http://www.hmrc.gov.uk/cars/advisory_fuel_archive.htm