What are the going rates for mileage on a pence per mile basis that people are claiming for their expenses?
katie scott
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What are the going rates for mileage on a pence per mile basis that people are claiming for their expenses?
katie scott
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6 Responses
mileage rates
mileage rates vary wildley but my company currently pay 40p a mile for the first 5000 and then 18p thereafter. The Inland Revenue work on 40p for first 10,000 and then 27p thereafter.
hope this of use.
Mileage
We’re a private practice and can claim 40p for first 4000 miles, and 22.5p for each mile thereafter.
Hope this is helpful!
Fuel rates
Fairly similar to the others, 40p per mile for the first 10,000 25p thereafter.
Mileage options
As already indicated, the Inland Revenue does have recommended mileage rates and you check the current level on their website. Many businesses are unhappy paying that rate to trainers (and others) and will set a much lower rate, depending on whether they pay a car allowance or people have a company car or you drive your own. This can be set as low at 9p a mile for diesel vehicles for the first two and is often around 25p for all mileage for private vehicles.
If you are not being paid the maximum under IR rules, you can claim back the tax element on your tax return.
By the way, please make sure that the car is insured for business use.
40p it is!
That’s the standard rate I charge my clients
Regards
Martin Haworth
Coaching Businesses to Success
Arian Associates Ltd
Depends on your perspective.
If you are paying it – as little as possible and if you are claiming it – as much as possible.
The norm is in the region of 40p/mile.