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Post Info TOPIC: Claiming Business Milage
Tedius


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Claiming Business Milage
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Just a quick confirmation really.

I run my own business and I want to claim my business milage.  At the moment I have been entering my travel as a Travel Expence (@ 45p per mile) in my Travel Expence account.

Dr Travel Expenece, CR Capital Account

Is this the correct way of doing it or do I calim it on my self assesment form once that comes through next year, or is it a completly different thing I should be doing?

Thanks



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gillyfleur


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HMRC rules are that you can claim 45p per mile for the first 10,000 miles and 25p for miles in excess of 10,000. Your entries are correct If you are VAT registered and keep your fuel receipts you can claim the VAT back on the fuel element only for the mileage (was 11p per mile last tax year, not sure if this has gone up or not)

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