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Post Info TOPIC: Mileage allowance payments
Stardoe


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Mileage allowance payments
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OK, I'm having a bit of a dim moment here......when working out the .45p for 10,000 miles and .20p for the rest, is the 10,000 miles counted from start to end of the financial year, or from start to end of the client's financial year (if different) (which one of mine is).

Pauline



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Pauline
Julie Hall


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Hi Pauline, I am almost 100% sure it runs with the financial year, and not clients financial year, and it is also 25p after 10,000 miles, clarification from others would be appreciated.

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Julie
ADAS


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I'd agree with Julie.

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Tony

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MarkS


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The rule of 45p for the first 10k miles came in from 6 april 2011.  Before then was 40p.

If the year end isnt 5 April 2012 then you will have some mileage at 40p and some at 45p.

Regards

MarkS



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Mark Stewart CA

http://stewartaccounting.co.uk/

Providing accounting, bookkeeping, payroll and tax services to small and medium sized businesses across Central Scotland and beyond.
gbm


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The question looks like it relates to ltd co's - if this is the case then yes it's the tax year.

If, however, it related to a sole trader/partnership with, say, a 30 September year end, then as Mark suggests some will be at 40p and some will be at 45p.



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Stardoe


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Many thanks for the replies everyone, yes it is a Limited Company, so I will take it from 6/04/10 to 05/04/11. Company year end is February 2011.

Thank you....hopefully I won't have too many more dim moments!

Pauline

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Pauline
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