Mileage Allowance?

HI,

My boss wants to pay me a mileage allowance for when I'm doing field work.

Anyone have any idea what the Inland Revenue/C&E figures would be?

CBR1100 by the way.

TIA.

 

Well, I'm just guessing, but I suspect the IR might...

.... oh, yes, what a surprise:

http://www.inlandrevenue.gov.uk/rates/travel.htm

This is, of course, the maximum you can claim before you get taxed on it.

Doesn't matter to the IR.

You might be better off claiming an amount based on the actual running
costs. Have a look at the calculator here:

http://www.theaa.com/allaboutcars/advice/advice_rcosts_home.html

.... and also the "Archive" section which contains some specific
motorbike-related information.

 

The IR will not tax you if you get 24p per mile or less. You cannot run a
CBR 1100 for that though - sorry mate!

 

Lucky - I'd get the IR rate of 24p a mile (or whatever it is).

 

I get 12p/mile. But they provide the car, pay servicing, etc.

 

And you still get 12p a mile?

Don't you end up paying a whack of tax on that though?

Still, 7.2p per mile extra for just driving around isn't bad...

I've 'officially' been told that the use of a motorcycle for company
purposes is frowned upon

 

Same here. Only costs me about 8p/mile in fuel though, and I disregard
all other running costs...(which reminds me, tyres a bit bald!)

 

To cover the petrol for business miles, yes. That's just the IR
recommended figure. I don't get paid anything for private mileage.
(i.e. I pay my own to and from work costs, etc. but can reclaim travel
to visit customers.)

I lose about £3k/ yr off my tax allowance for having a company car, but
@40% tax that's £1200 ish, so cheaper than running my own car.

Not here it isn't, plenty of people do so. We use the IR rates as
normal for it.

 

I'm not sure you've done the numbers right.

 

For the direct tax I pay I have, there's also the matter of the car
allowance I could take by opting out, but it'd be taxed as normal
salary, and it's fairly pitiful really.

I've not done the sums as to whether I opt out next year, but it's nice
having a car I never have to worry about.