How much can you claim for mileage? Tips on Tax

How much can you claim for mileage? Tips on Tax

Hi Everyone!

So today is the first of my ‘Tips on Tax’ blogs – short blogs with quick information answering your tax, accounting and bookkeeping questions.

If you’re self employed or run a business and wonder how much you can claim back in mileage on your Tax Return, it’s simple!

• For the first 10,000 miles that you travel you can claim back 45p per mile.

• For every mile that you do over 10,000 you can then claim back 25p per mile.

That’s specifically in regards to HMRC regulations (as of September 2018) – in regards to how much you can charge your clients, that is of course entirely your decision! But we generally find the typical rate for businesses charging clients for mileage is 30p per mile which seems a reasonable amount in regards to charging for the cost of the petrol and general wear and tear on your vehicle. However there are plenty of people who charge the full 40p per mile since they know the client will claim that full amount back within their own tax return (as dictated by the figures above!) however many don’t like to pay this initial fee up front (since it is a little steep, especially if you’re travelling many miles!) so be sure to choose an amount which works for you and for the client.

I hope that helps and if you want anymore information just contact me at info@zlogg.co.uk

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