Does standard SD&P+C cover for driving to training course
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45p per mile for the 1st 10k business miles I think, and it reduces thereafter.0
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Depreciation might be more of an issue if I had a new BMW I suppose - but on the sort of car actually I drive depreciation is negligible, and maintenance costs don't come close to the 25p/mile or so which is left over after petrol. So yes, there's plenty of profit in it thank you very much.
the deprecation, approximate apportion of insurance, and wear & tear is an average of the lifetime of the cars useful life. So you're right for a brand new car the 45p a mile to not sufficient enough, for a end of the line car with 130K+ on the clock it may be a little bit excess.
For 300 miles I'd still get the company to pay for a rail ticket. The small gains is not worth the painfully long drive across Britains motorways.0 -
Spicy_McHaggis wrote: »So why after so many miles/claims do you get a letter off the tax office? They think there's a profit in it.
I've never, ever had a letter from the tax office and I'm routinely claiming at 45p.
For me at least it's a good way to cover some of the running costs of the car with very little, if any, impact on depreciation.Remember the saying: if it looks too good to be true it almost certainly is.0 -
I've never, ever had a letter from the tax office and I'm routinely claiming at 45p.
For me at least it's a good way to cover some of the running costs of the car with very little, if any, impact on depreciation.
But are you routinely doing more than 10,000 per year?
Are you PAYE and your company is the one paying it for you? If you were then you wouldnt get a letter from the tax office but the HR/ Payroll team should be dealing with either ensuring the right rate is paid for the total miles driven or tax is paid on the overpayment if they still payout 45p for over 10,000 miles in a year.0
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