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P87 - business mileage claim
Comments
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sidsnot617 wrote: »I see now, thanks.
I don't deduct what I paid back to the company; it's the whole fuel card bill for the year :-)
No, you need to separate the number of miles you did privately and what you repaid from the business miles. The £4000 isn't the right amount to deduct.
What are the actual figures?
Business miles = ?
Personal miles = ?
Fuel card total = ?
Fuel repayment = ?Trying to be a man is a waste of a woman0 -
My actual figures for 2012-2013 are:-
Total business miles = 14169
Total private miles = 2976
Total fuel card bill = £3065.74
Total Private fuel paid back = £2976
FYI
I'm based from home and have access to other cars
0 -
Sorry
Total private fuel paid back is £565.650 -
You can only claim 45p on the first 10,000 miles. Starting to think I will have to pay an accountant :-(0
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Sorry, I mentioned previously I was dumb, sorry!
What confuses me the most is what I put down as "mileage payments" received?0 -
Update....
A friend gave me a phone number of an accountant he knows and he told me..........
If my total business miles are 14169
It's 10000 x 45p = £4500
It's 4169 x 25p = £1042.25
Totalling £5542
My total allowance payments received will be "the total fuel card expenditure minus payments paid back to company" :-
Total fuel card = £3065.74
Total repayment = £565.65
Results in £2500.09
Therefore I can claim business mileage relief £3042 (£5542-£2500)0 -
Does anyone disagree with what I was told?0
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No, that is correct.0
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sidsnot617 wrote: »Update....
A friend gave me a phone number of an accountant he knows and he told me..........
If my total business miles are 14169
It's 10000 x 45p = £4500
It's 4169 x 25p = £1042.25
Totalling £5542
My total allowance payments received will be "the total fuel card expenditure minus payments paid back to company" :-
Total fuel card = £3065.74
Total repayment = £565.65
Results in £2500.09
Therefore I can claim business mileage relief £3042 (£5542-£2500)
Agreed. (Exactly as I said in post 2
) 0 -
Thanks all, appreciate your help0
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