articles/Business/pencemile-page2

How do I work out the amount I can claim for using my car for work using the "pence per mile" method? - part 2 of 1 2

Published 01/02/2008

EXAMPLE

calculating his expenses they are as follows:
Motor fuel £1,300
Motor expenses £ 300
Motor Insurance £ 800
Depreciation £2,400
TOTAL £4,800


Using the pence per mile basis he could claim:
10,000 miles at 40p = £4,000
5,000 miles at 25p = £1,250
TOTAL £5,250

Therefore based on the above John would be better of changing to the pence per mile basis.

Have you got a topic or general tax question you want us to cover in the Q & A next issue? Then email mikep@twdaccounts.co.uk


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1st Published 01/02/2008
last update 06/11/2019 11:07:37

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