Travelling expenses records

by **eightball** on Mon Jan 23, 2012 11:30 am

Hello,

Im wondering what records i MUST keep to claim travelling expenses, i would be working it out by per mile so 40p per mile and 25p per mile after 10000 miles,

so on my record sheet, do i simply put 20miles travelled for example or do i have to put where exactly i went? also do i need to keep receipts for petrol? if so please explain why as i read somewhere that you had to but wasnt quite sure why you would have to (or is this for if your calculating travelling expenses by the actual figures?)

it will only be a small ammount of mileage a year, something like 400 odd miles but it all adds up

Gary

by **robbob** on Mon Jan 23, 2012 12:32 pm

Hello Gary

so on my record sheet, do i simply put 20miles travelled for example or do i have to put where exactly i went?

You should put exactly where you went - if you don't do this and HMRC ask where you went at a later date then it may be tricky to find/remember the exact details.
It is sensible periodically to list the total car mileage done - thus providing proof that the car has at least done as many miles as you claimed for.

also do i need to keep receipts for petrol?

If you are in business and want to reclaim vat then you will need to keep the receipts for the vatman, although i would recommend keeping the receipts in any case as it does provide additional evidence that the car has done the stated mileage and the locations will tally back.If you are an employee then your employer may want you to give them the petrol receipts so they can cliam the vat back.

by **Peter D** on Mon Jan 23, 2012 1:01 pm

It is now 45p for the first 10K miles. What are the journeys for, what do you do. Regards Peter

by **eightball** on Tue Jan 24, 2012 11:42 am

robbob wrote:It is sensible periodically to list the total car mileage done - thus providing proof that the car has at least done as many miles as you claimed for.

i use my car aswel to travel to friends and college aswel which obviously i wouldnt account for this mileage, would they deam that okay? for example i need to top up my car more for socially travelling etc than actual work, so do i still write down the car mileage etc?

robbob wrote:If you are in business and want to reclaim vat then you will need to keep the receipts for the vatman, although i would recommend keeping the receipts in any case as it does provide additional evidence that the car has done the stated mileage and the locations will tally back.If you are an employee then your employer may want you to give them the petrol receipts so they can cliam the vat back.

how much vat can i reclaim from mileage from the vatman? as if its not much i wouldnt bother, i only wanted the travel expenses covered really, im unsure of how it works, does the tax people pay me 45p every mile i do or does it just allow me to add 45p each mile as expenses on my records so that i dont pay tax on a proportion of my earnings which i spent on petrol anyway kinda thing?

by **eightball** on Tue Jan 24, 2012 11:43 am

Peter D wrote:It is now 45p for the first 10K miles. What are the journeys for, what do you do. Regards Peter

im a self employed handyworker,

so the journeys would be for travelling to and from customers houses in which i carry out the work

by **King_Maker** on Tue Jan 24, 2012 12:09 pm

You can only claim back VAT, if you are VAT registered.

No, HMRC don't pay you 45p per mile - it's deducted from your income, and is instead of claiming for all the motoring costs (insurance, repairs, depreciation etc).

by **eightball** on Tue Jan 24, 2012 9:09 pm

King_Maker wrote:You can only claim back VAT, if you are VAT registered.

No, HMRC don't pay you 45p per mile - it's deducted from your income, and is instead of claiming for all the motoring costs (insurance, repairs, depreciation etc).

hmm i didnt think they would pay for my petrol lol would be too good to be true, i guess all my questions are answered 8-)

cheers

by **King_Maker** on Wed Jan 25, 2012 9:18 am

If relevant, you can claim any finance costs of the vehicle in addition to the mileage rate(s).

by **eightball** on Wed Jan 25, 2012 2:35 pm

King_Maker wrote:If relevant, you can claim any finance costs of the vehicle in addition to the mileage rate(s).

like what finance costs of the vehicle? and how

Gary

by **nikkisizer** on Sat Feb 11, 2012 8:35 am

Hi Gary,

You may be able to claim interest/finance charges associated with the purchase of your vehicle. If applicable this is done via your tax return.

If you are unsure about what you can and can't claim for then I am happy to help if needed so please do not hesitate to contact me should you require any further assistance.