The "Pay ALL your debt off by Xmas 2012" challenge - PART 2!!!

loubie_lou · 4 April 2012 at 9:52AM

mf0u1098 wrote: »

:j:j:j I've not caught up on the thread yet for today but just had to tell you all that I got told you can claim tax relief on business mileage between the rate your employee pays and the government rate. I've worked out that I'm owed £1,327.03!!!!!! :j:j:j

I sent a letter t HMRC about 3 weeks ago. I put a claim in for over a grand too! Here is to watching and waiting! :cool:

InsertWittyName · 4 April 2012 at 5:11PM

I'd be careful with the HMRC tax relief on mileage allowance calculations.

Say your company rate is 35p per mile and the HMRC rate is 40p per mile (I can't remember the HMRC rate exactly).

You get tax relief on the difference, so 20% of 5p (assuming basic rate tax payer) which is 1p per mile.

mf0u1098 · 4 April 2012 at 9:30PM

Hey everyone, I've now created Part 3 (here is a link). It's not quite finished yet but I will be able to make finishing touches as we go along!

http://forums.moneysavingexpert.com/showthread.php?p=52235227#post52235227

The "Pay ALL your debt off by Xmas 2012" challenge - PART 2!!!

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