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Rules for tax. If you make payments to employees above a certain amount, you’ll have to report them to HM Revenue and Customs ( HMRC) and deduct and pay tax. Mileage Allowance Payments (...
17 kwi 2024 · HMRC provides advisory mileage allowance rates that your employer can use - the rate for the 2024/2025 tax year is set at 45p for the first 10,000 miles. Mileage tracking made easy. Trusted by millions of drivers. Automate your mileage log. Calculating your mileage allowance.
The current mileage rates are used for both mileage relief for employees and mileage deductions for self-employed. The rates for 2023 are as follows: Cars and vans – 45p for the first 10,000 miles, 25p for every mile over 10,000 driven miles for business. Motorcycles – 24p per mile regardless of the miles driven.
1 cze 2023 · In the UK 2023/24 tax year, mileage rates are currently set at 45p per mile for the first 10,000 miles for cars and vans. This means that car and van drivers can claim back up to the ‘approved amount’ of 45p from HMRC for every mile travelled for business use, up to 10,000 miles.
12 sie 2020 · Tax Tax Advice. UK business mileage allowance and mileage allowance relief. 12 Aug 2020. If you use your own car for business travel, you are entitled to claim certain costs as an allowance against tax and that could reduce your tax bill.
