M is for Mileage - A to Z Accountancy Top Tips
There are various rules for claiming the cost of business journeys.
These are trips that are for business reasons e.g. seeing clients or suppliers, other meetings or doing deliveries.
You can’t claim for going between home and your main place of work.
If you are a sole trader or in a partnership and you use your own car for business journeys you can claim:
- The business proportion of the total costs
- The mileage
You will need to keep a mileage log. This can be an excel summary or there are easy apps you can use like tripcatcher.
Each tax year you can claim 45p for the first 10,000 miles and 25p thereafter. This covers the fuel and running costs.
If you are employed or a director of a limited company and use your own car for business journeys you can also claim mileage at the same rates.