Instead, many self-employed people claim mileage allowance, a flat-rate scheme that provides a much simpler way to claim back the cost of using your own vehicle for business. Mileage allowance is part of a range of “simplified expenses” options that HMRC offers to self-employed people. Th...
Mileage Allowance Gets Mid-Year Boost. (cover story)The article reports on the changes implemented by the U.S. Internal Revenue Service (IRS) on the maximum travel allowance granted by employers to their employees starting July 1, 2011.
You can claim the electricity and fuel you use during business trips as part of your mileage allowance when using a company car. Remember to keep records of your business travel to support your claim. If your employer reimburses some of your costs, you can still claim tax relief for the d...