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Showing Mileage on books

digi_d · 2013-03-31 13:46:54

I use my car for biz and pleasure keeping a log of each trip for biz mileage. I keep receipts for all petrol spent. At the end of the month I total all biz miles and offset the HRMC rate. So if say I did 400 biz miles in Feb and it comes to £160 (400 x .40p) yet petrol spent that month was only £200 how do I show it in my…

Comments

martindow Posts: 10,712 Forumite

2 April 2013 at 11:09AM

45p/mile is not just fuel costs it is supposed to cover the total cost. As I understand it, you can either use the costs of running the car - fuel, repairs, servicing, insurance, etc. - and use the percentage of this that is business use or claim the 45p. Either way you need to record the business mileage so that you can justify it to HMRC.

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