Company miles in own car
Posted: Mon Dec 03, 2018 3:55 pm
Hello,
I'm considering setting up a Ltd co to manage rental property, including my own portfolio. At present I do business miles as a landlord and my accountant uses that as expense. If I set up the Ltd Co. how would the mileage be accounted for? Would the company need to buy a car, or can I use my privately owned car and claim 45p per mile for the first 10,000 miles as a private person? If so how do we distinguish between my allowance as a person, vs the one of the company. I hope this makes sense to someone.
I'm considering setting up a Ltd co to manage rental property, including my own portfolio. At present I do business miles as a landlord and my accountant uses that as expense. If I set up the Ltd Co. how would the mileage be accounted for? Would the company need to buy a car, or can I use my privately owned car and claim 45p per mile for the first 10,000 miles as a private person? If so how do we distinguish between my allowance as a person, vs the one of the company. I hope this makes sense to someone.