The one thing I hate is...
08-16-2002, 10:38 AM
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The one thing I hate is...
the engine capacity.
I do loads of company miles (8000 since the supermeet) and when I go to claim through the company I only get 12p a mile, because it's below 2000cc. If it was 2001cc it jumps to 16p.
Yet it produces 240 bhp Mr Expenses man. Some people just don't understand
Do I own up (and try and get the higher rate) or claim for the later. I hink honesty will prevail
GUY
I do loads of company miles (8000 since the supermeet) and when I go to claim through the company I only get 12p a mile, because it's below 2000cc. If it was 2001cc it jumps to 16p.
Yet it produces 240 bhp Mr Expenses man. Some people just don't understand
Do I own up (and try and get the higher rate) or claim for the later. I hink honesty will prevail
GUY
08-16-2002, 09:39 PM
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Have I read this right 12p ! seeing as it costs a least 55 to 60p per mile to run your S2K I hope your salary covers the huge discrepancy.
8000 miles at 12p=
8000 miles at 12p=
08-17-2002, 12:05 AM
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Guy
If your S2000 is owned by the company, then 12p per mile is the correct petrol reimbursement rate (according to Inland Revenue rules) for a car of 1,400cc to 2,000cc. The rate rises to 14p per mile for cars over 2000cc.
The company will not be able to charge any higher payment against tax, but there is no reason why (if you are a blue eyed boy) they should not pay you the actual petrol costs and accept that they cannot get tax relief on anything over 12p.
Looking at it logically, however, if an S2000 does an average of 25 mpg and Optimax costs
If your S2000 is owned by the company, then 12p per mile is the correct petrol reimbursement rate (according to Inland Revenue rules) for a car of 1,400cc to 2,000cc. The rate rises to 14p per mile for cars over 2000cc.
The company will not be able to charge any higher payment against tax, but there is no reason why (if you are a blue eyed boy) they should not pay you the actual petrol costs and accept that they cannot get tax relief on anything over 12p.
Looking at it logically, however, if an S2000 does an average of 25 mpg and Optimax costs
08-19-2002, 06:26 AM
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All - Al lot of you have mentioned 40p/25p per mile in previous posts.
This actually changed at the beginning of this tax year (according to my accountant). The taxman scrapped the CC based rates for using your own car for business and replaced them with a flat rate for ALL cars no matter what the cc. The new rate is 40p per mile for the first 10,000 miles and then 25p thereafter.
This actually changed at the beginning of this tax year (according to my accountant). The taxman scrapped the CC based rates for using your own car for business and replaced them with a flat rate for ALL cars no matter what the cc. The new rate is 40p per mile for the first 10,000 miles and then 25p thereafter.
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08-19-2002, 08:25 AM
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Originally posted by dterry
All - Al lot of you have mentioned 40p/25p per mile in previous posts.
This actually changed at the beginning of this tax year (according to my accountant). The taxman scrapped the CC based rates for using your own car for business and replaced them with a flat rate for ALL cars no matter what the cc. The new rate is 40p per mile for the first 10,000 miles and then 25p thereafter.
All - Al lot of you have mentioned 40p/25p per mile in previous posts.
This actually changed at the beginning of this tax year (according to my accountant). The taxman scrapped the CC based rates for using your own car for business and replaced them with a flat rate for ALL cars no matter what the cc. The new rate is 40p per mile for the first 10,000 miles and then 25p thereafter.
I thought my posting of 17/8 said this?
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