Mileage claims

[Sinister]

Hey guys,
preparing the paperwork for my accountant...
Just one quick question. I've done 15000 business miles last year. How do I convert that into expenses? I know you can claim the actual petrol expenses, but there's also a way of claiming the money per mile. Could someone let me know what's the best way to do it?

[LeftArm]

If the car is your own (ie not claimed as a company car) then you can get relief on 40p per mile for the first 10000 then 25p for each after that. £4000+£1250 =£5250
HM Revenue & Customs: Rates and Allowances - Travel

If it's a company car then the whole thing is far more complicated.

Don't you invoice for travel expenses?

[Sinister]

Thanks for that LeftArm.
I do invoice companies as well Am I putting myself in a sticky situation here? The invoices never say it's for mileage though..

[johnep]

My accountant advised me to claim for mileage and fee as one item. Will pay tax on this but can claim. until now. 40p/mile against tax.
If receive a definite tax free sum (and I never have in community), and not pay tax, cannot claim.
johnep

[Sinister]

Thanks Johnep,
that's what I thought I was considering claiming my transport expenses as I had one expensive gearbox repair, but the mileage at 40p still worked out better for me..

[johnep]

Remember you do not actually receive 40p. This is just set against your tax.
johnep

[pharmer7]

If the multiples pay a section of your mileage (after first 40 miles or w/e) , does this mean you can claim whatever they have not paid for?

[johnep]

If you declare what they pay as income and pay tax, then all your mileage is claimable.
johnep

[Defblade]

Keep your eyes on this thread

[Pill Pusher]

Does everybody know that you cannot now claim for expenses from your house to the workplace? You can only claim if you are travelling from one branch to another branch!

Just something else that locums have lost! I have lost £4000 in the 2009/2010 tax year!