Mileage or fuel receipts?

[obseen16]

hi all, have been told to do it both ways but which way would you consider better? claim 40pence per mile (could be wrong) OR just put fuel receipts through the books. at the moment im doing both but not sure which one is the better. and being as i can only put one method through the books i wanna know which one is considered the norm,

what do you do?

thanks all.

j

 

[uug197h]

If I remember right if you claim mileage it is your privet vehicle and you pay for the upkeep if you class it as a company vehicle then you put in the receipts for the fuel, service, tax and claim for the purchase of the vehicle( i may be wrong you would be better asking your accountant)

 

[sonray ltd]

i put them all through and always been accepted.
as said if its company put the lot through its the company reason you have the vehicle.

 

[obseen16]

i put them all through and always been accepted.
as said if its company put the lot through its the company reason you have the vehicle.

Sonray - do you mean you claim mileage and fuel receipts in the same tax year?

 

[Bagsy]

Commercial vehicle 100% claim, private vehicle 40p per mile. But speak to an accountant don’t take my word for it. Remember cuntry is in a state, so tax man will be looking very carefully.
Bagsy
www.plumbfixit.synthatsite.com

 

[Grumpygrouter]

You can do either/or but not both. 40p per mile for first 10k miles and then 25p per mile thereafter. If it is a private vehicle, the tax man may expect to see an "add back" to the tax return for private use.

 

[justlead1]

Hi. As tax returns are an annual chore, why not get all your fuel on the same charge/credit card, this will allow you to analyse statement and make the choice that suits you when the time comes?. Good Luck