Mileage Expenses

Do you drive your own car or ride your motor bike for business? If so, you may be able to claim mileage expenses. For further information review the Travel and Subsistence Payments Policy. 

Within your working day you may only take a few short journeys for business, you may not think it’s worthwhile claiming. You could be shocked by how much tax free money you could be losing. Every penny counts!

HMRC guidance recommends 45p per mile for cars, 25p per mile after 10,000 miles and 24p per mile for motor bikes.

How much do I get towards wear and tear?

Fuel Price used for this calculation, is based on a figure of £1.92 per litre

30 Business Miles * 0.45p £13.50 presuming car covers 40 miles per gallon, journey would cost £6.57.

30 Business Miles * 0.45p £13.50 presuming car covers 35 miles per gallon, journey would cost £7.54.

30 Business Miles * 0.45p £13.50 presuming car covers 30 miles per gallon, journey would cost £8.76.

30 Business Miles * 0.45p £13.50 presuming car covers 25 miles per gallon, journey would cost £10.52.

600 Business Miles * 0.45p £270.00 presuming car covers 30 miles per gallon, journey would cost £175.28. Contribution to running costs £94.72

If you are doing 3000 Business miles a year after the cost of fuel you will be left with £473.60 to contribute to the cost of running your car.