Now we're vat registered, this is the first time I've had to split up the sales rep personal expenses into what it vatable and not vatable when posting them onto sage. They get mileage paid for company mileage so am I correct in assuming that the amount claimed (eg 10 miles at 40p = £4) is not vatable. Also, I cannot see a 'mileage' nominal code so I've entered this under 'misc motor expenses' but changed the vat code to T0.
You are ofcourse able to claim a % for vatable element of mileage however you should keep a record of the vat receipts for this (no idea why as can't run a car without petrol). Some accountants give different advise however I have been informed 13p = VAT / 29p = non VAT. We have used 7305 for mileage.
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Donna Curling - Complete Book-Keeping Ltd (CBKLtd) - 07939 101900
And you can find out which classification your vehicle falls in by searching for it here:-
http://www.vcacarfueldata.org.uk/
This means, for example, my 1.2 Ford KA I drive is in the 1400cc category (v low CO2 emissions). I get 40p a mile of which 12p is the fuel element on which input VAT is reclaimable.
