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liz252
05-08-2008, 02:32 PM
Hiya, a car related question ..... I'm keen to go down the 40ppm route of claiming for my expenses - how do I show this on the accounts book? Do I just write 'trip to farm - 10 miles = £4 expenses' - do I need to keep all petrol receipts or just the ones where my mileage would go over £10?

Or do I need a separate accounts book for cars? Really need to do this as am going to end up paying tax this year which is silly as we are out & about in the car such a lot!

What does everyone else do?

Thanks, Liz x

christine e
05-08-2008, 02:56 PM
I just put my total mileage in for each week eg 50 miles x 40p = £20.
If I put in separate trips each week I would fill the whole sheet just with mileage. Remember to include your food shoping trips and to and fro school playgroups etc.

Cx

liz252
05-08-2008, 03:06 PM
Thanks for that, I actually get my shopping delivered & walk to school so it literally is just trips out. Do you keep every single petrol receipt then if your mileage/amount goes over £10?

christine e
05-08-2008, 04:06 PM
No I don't keep all my petrol receipts remember the mileage allowance is to cover petrol and all other running costs

Cx

miss mopple
05-08-2008, 05:50 PM
I keep a mileage log book in my car (got it from staples) and record each journey in there. Its amazing how the miles add up. About a third of my expenditure is mileage each year

Alibali
05-08-2008, 05:53 PM
I keep a mileage log book in my car (got it from staples) and record each journey in there. Its amazing how the miles add up. About a third of my expenditure is mileage each year

I do this too, just in an ordinary note book, and it is amazing how it adds up. As long as you can justify your expenditure to the tax man you'll be ok.

Chatterbox Childcare
05-08-2008, 06:26 PM
Hi

I have had a meeting with a representative of the Inland Revenue.

To claim ANY mileage, whether .40p or depreciation, you must be able to show evidence of your journey's.

I like others keep a diary which shows where I have been and the total mileage for that day.

If they ask to see your evidence and there isn't any, they can remove all deductions and charge you tax on the whole amount and then back date interest.

Hope that helps.

Debbie:laughing:

liz252
05-08-2008, 08:15 PM
Excellent, thanks guys - this has helped me loads! I'm now going to keep a little book in the car so I can record our mileage & then put it through weekly on expenses. As I didn't earn enough to get taxed last year it didn't seem important but it really does now!!

Thanks again, really chuffed :) Liz xx