View Full Version : Petrol mileage
Minnie mouse
13-12-2008, 01:51 PM
Hi i was just wondering how much we can claim for petrol per mile? Is it still 40p per mile for the 1st 5000 and then 20p?
Thanks in advance
Minnie mouse
13-12-2008, 02:41 PM
Will really appreciate any help, as just trying to catch up with accounts before christmas. I have petrol receipts for £10 per week etc but obviously i cant claim all that back as its not used entirely for minding. i keep a log book of miles i travel for minding which helps me with accounts but i just thought i best check its still 40p per mile :)
FizzysFriends
13-12-2008, 02:49 PM
40p per mile for the first 10,000 per tax year and then 25p after that. Thats what it is for our engineers at work, can't see why it would be any different for childminders. Its on the hmrc website if you want to clarify.
Minnie mouse
13-12-2008, 03:04 PM
thats excellent thanks so much
xx
Minnie mouse
13-12-2008, 03:08 PM
wow that £19.20 per week for the miles i do yet i only fill up with £10 petrol per week so it does cover all of the £10 i spend after all. I thought id only be able to claim half of that back :laughing:
FizzysFriends
13-12-2008, 03:11 PM
Well its not just to cover petrol it covers wear and tear on the car, insurance, cleaning it (?).
Minnie mouse
13-12-2008, 03:17 PM
thats great thanks x Surely you should be able to claim part of your car insurance etc then as i cant claim back £19.20 mileage from a £10 receipt so that means im losing out on £9.20 a week :rolleyes:
mummyroysof3
13-12-2008, 03:22 PM
hi we had a tax session on our icp course a few weeks ago and thats what they told us either 40p per mile only or can claim everything but that way is more complecated
charlotte x
Minnie mouse
13-12-2008, 03:25 PM
Thankyou :)
FizzysFriends
13-12-2008, 04:16 PM
thats great thanks x Surely you should be able to claim part of your car insurance etc then as i cant claim back £19.20 mileage from a £10 receipt so that means im losing out on £9.20 a week :rolleyes:
If you have used £10 worth of petrol and your milage claim comes to £19.20 then the £9.20 goes towards everything else. It doesn't go on the petrol receipts but the milage, which you must keep a record of.
Minnie mouse
13-12-2008, 05:11 PM
I see, so i can put down £19.20 in my expenses and dont need to collect petrol receipts i just put the miles i do each day in a notepad?which is what i do also :)
FizzysFriends
13-12-2008, 05:16 PM
Yep that it.
sarah707
13-12-2008, 05:17 PM
I see, so i can put down £19.20 in my expenses and dont need to collect petrol receipts i just put the miles i do each day in a notepad?which is what i do also :)
Absolutely!
The 40p per mile is for everything to do with your car, so the petrol receipts are only part of the story :D
Allie
13-12-2008, 05:38 PM
Please keep all your receipts as well. A friend had all their books and paper work looked at by the Tax man and not having receipts was an issue.
I know it says only for amounts over £10 but it makes life easier if you keep everything you can.
Minnie mouse
13-12-2008, 05:47 PM
I shall do, thanks guys :)
hiya,
I went on a hmrc self employment short course and was told that you can claim the cost incurred of your vechile against your business. There are two methods
1. Apportionation (or some such word).
eg you've bought a vechile & you drove 10k mils in yr1, of which 7k mils was biz related. Therefore you can claim 70% of all related car costs eg road tax, servicing, maintainance, insurance plis business element.
2. Mileage, a flat rate of 40p per mile
The first favours older vechiles. However , the second is more popular as its more straight forward.
What ever method you choose, you MUST stick with for the life of that vechile.
As for the vechile itself, the biz portion is treated as a capital allowance, thus depriciates over a number of years, eg car cost you £1000, biz useage is 70% thus only £700 is shown in your accounts. More info on this can be found on the hmrc website.
hth!
Cecile
x