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Top Tip - Claiming Mileage

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Top Tip - Claiming Mileage

 

Using your own car for business? If so are you claiming tax relief on your mileage?

If you are not paid a mileage allowance, you may be eligible to claim ‘Mileage Allowance Relief’ to cut your tax bills.

To calculate how much tax relief you can claim, add up your business mileage for the tax year and multiply it by the approved mileage rates.

What is the current approved mileage rate?  The current rate stands at 45p for the first 10,000 miles & 25p thereafter in a tax year; DON’T FORGET THE EXTRA 5P FOR A PASSENGER.

If you need help calculating how much tax relief you can claim we’ll be more than happy to help you.

Call: 01322 555 442

Email: happytohelp@bluerocketaccounting.com

 

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