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Company fuel card or not?
P16eno
Posts: 2 Newbie
in Cutting tax
Hi all,
I have recently started a new job where I receive a car cash allowance.
At the moment I am paying for fuel myself and the company reimburse me at the rate of 14p a mile. I believe at the end of the tax year I can claim tax relief on the difference between the 14p the company give me and the governments rate of 45p for the first 10,000 miles and a reduced rate thereafter?
My question is that the company have offered me a fuel card with which I can fill up and just pay them 14p a mile for my personal mileage which I must declare monthly. This sounds a better option as it leaves the money in my account but is it still possible to claim tax relief on the company miles I do and if so at what rate do the company declare the mileage I do for work?
Hope I've explained this okay
Regards
Pete
I have recently started a new job where I receive a car cash allowance.
At the moment I am paying for fuel myself and the company reimburse me at the rate of 14p a mile. I believe at the end of the tax year I can claim tax relief on the difference between the 14p the company give me and the governments rate of 45p for the first 10,000 miles and a reduced rate thereafter?
My question is that the company have offered me a fuel card with which I can fill up and just pay them 14p a mile for my personal mileage which I must declare monthly. This sounds a better option as it leaves the money in my account but is it still possible to claim tax relief on the company miles I do and if so at what rate do the company declare the mileage I do for work?
Hope I've explained this okay
Regards
Pete
0
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