Hi, desperately hope someone can help; here is my situation:
When I first started my job I used my own vehicle and received 40p/per mile from my employer.
I then switched to a company car allowance until my company car arrived.
I now have a company car and am paid 11p per mile. I pay for the petrol myself and am reimbursed by my employer at 11p per mile every month.
I wish to ONLY claim tax relief for the period since I took ownership of the company car. I have happy with the situation while using my own car etc.. and am not owed anything.
I am trying to complete the tax form P87 and have been told by the HMRC helpline that I have to complete Section4 not Section2 because I use a company car not my own vehicle.
Section 4 wants the amount I spent on fuel for the period I am claiming. It also wants the amount I was repaid by my company. I calculate this second figure by multiplying the
mileage I have done in a month by 11p per mile. I have all the figures I need to calculate this for the entire year(s).
However, how do I provide an accurate figure in Section4 for what I paid out initially? If I fill my fuel tank not all that fuel will be used on company mileage. All I have to work
from is the mileage I drove that month. I have not kept petrol receipts going back 4 financial years!! and even if I had I do not see what use they would be as a receipt for £60
cannot be submitted for mileage of only 100miles for example!
I do not know how to accurately work out the amount I spent on business mileage.
Should I work out the average price of petrol for that year and then use the figures along with my average mpg of the car to somehow produce a cost for the mileage I travelled
that year!??
HELP!! I cannot find any detailed info on this precise issue (Section4). I have seen the HRMC website relating to P87 Tax Relief etc.. but there is not enough detail.
Any help appreciated.
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