Phil

Superdon

You need to justify the mileage as BUSINESS ie not to and from home

Phil

superdon

Work from home at the moment, and was thinking that I can work things out so that I claim for visiting clients etc?

TonyBurns

iTrader: (3)

Do what i did, bought my self a ford mondeo (1300 quid) and this year (jan to dec) ill earn about 8000 quid from that in mileage (average of 564 miles per week).
Now i can definately say that covers running costs of a scoob (sort of but its definately enough for the Mondeo ) so in one way, if you dont want mega miles on your scoob, buy a second car

Tony

superdon

Is that tax free though? I really cant get my head around the IR doc's and our accountant didnt really explain things very well either

Phil

YES it is tax free

Attu

I get 50p a mile but they have just bought some new pool cars so we end up using those 90% of the time but at least you appreciate your own car after driving a 1.8 Laguna all day

Andy

Pie_n_Chips

If a pool car isn't available I get 69p per mile

Sennadog 93

Someone alluded to this earlier but if you have a car allowance and are also given a mileage allowance by your company you can claim the difference back (the IR rate that is) from the Inland Revenue.

So, in my case I get the car allowance from my employer and also 12p per mile which I claim back in expenses.

The Inland Revenue rate is 40p per mile for the first 10,000 miles.

Therefore, I receive £1200 from my company and in April via the Self Assessment I can then claim back the difference from the IR:

40p - 12p = 28p x 10,000 = £2800. This is then reclaimed from the IR.


The second 10,000 miles is either 25p or 20p (can't remember) but you can work it out. This is why so many people are coming out of Company Car Schemes (apart from having to drive Vectras and Mundanos) into Car Allowance Schemes.

Essentially, after three years totalling all my "income" I should come out quits plus I get the benefit of running a Scoob.

CooperS

We get 38.5p per mile.

Andy

Andy Hall

I've been doing this since last April
Its 40ppm for first 10000 miles the 25p after that.
I have bought a Golf 110 TDI S reg for £8.5k on a 3 yr loan which costs £270 per month, I run it as a separate account and so evrything I spend comes out of the pot and all my travelling expenses go in.
Today I have £500 sitting in the account after 12640 miles.
The account has also paid for a cam belt change (about £500 inc service) plus 2 tanks a month for my wifes car plus her insurance & Tax and a few other bits and bobs.

Also I'm another couple of grand a year better off as I pay less tax

In another 2 years the car will probably be worth about £3k and I can use it as a deposit and start over again.

Andy

speedking

But I don't fill in a tax return and so can't make the claim. I suppose that I'm paying the IR about £150 a year so that I don't have to fill one in. I think that's fair

Stuart J

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