HMRC provides approved business mileage rates every tax year. The mileage allowance rates are currently: Vehicle typeFirst 10,000 milesEach mile over 10,000 Car 45p 25p Van 45p 25p Motorcycle 24p 24p Bicycle 20p 20p Your employer will be guided by these rates, but they’re not compulsory....
The amount that you can claim is dependent on the number of miles you’ve driven on business. The reimbursement rates also vary according to how many miles you’ve covered over the tax year – a more generous rate applies to the first 10,000 miles. Up to the 10,000 miles mark, driver...
employees who have petrol, diesel or hybrid cars, the UK’s Millage Allowance Payments allow you to claim 45p per mile for the first 10,000 business miles in the financial year and 25p per mile after that. If you have an electric car as a company car, the advised pay rate is 4p ...
3) They run the risk of having the wrong mileage rate being used which will result in increased costs as employees may claim, for instance, 0.45p, when the correct rate should be 0.25p. If they pay more than the Approved Mileage Allowance Payment rate, then it becomes taxable on the P1...