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Company Car - Business needs basis unable to meet the 10,000 miles this year
Hi
I have a business need status company car which requires me to do 10,000 a year,Due to Covid19 I will not meet this target as currently in shielding as well. On speaking with m company they said they will review on an individual basis if the car can be kept which is not an issue. My concern is come end of the Tax year will there be any financial implications if I do not meet the 10,0000 miles.
If yes I may be best saying now to hand the car back
Regards
Ian
I have a business need status company car which requires me to do 10,000 a year,Due to Covid19 I will not meet this target as currently in shielding as well. On speaking with m company they said they will review on an individual basis if the car can be kept which is not an issue. My concern is come end of the Tax year will there be any financial implications if I do not meet the 10,0000 miles.
If yes I may be best saying now to hand the car back
Regards
Ian
0
Comments
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AFAIK HMRC no longer care how many business miles you do. In the olden days there was a discount if you did more than 18,000 p.a.
0 -
The 10k/"business need" is simply an internal rule by your employer as to whether they provide a car or, presumably, pay mileage.0
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