From: "Doug Ramage" 
Newsgroups: uk.finance
Subject: Re: Car allowance or company car
Date: Fri, 4 Feb 2005 13:44:47 -0000


"Terry Harper"  wrote in message 
news:q5o601d5etaegr16s4q8sumbthh30g9usf@4ax.com...
> On Thu, 03 Feb 2005 21:30:23 +0000, Guttorm Christensen
>  wrote:
>>
>>Apparently I can opt out of the fuel card, and claim costs of business
>>mileage at a rate of 12p per mile.
>>
>>I seem to have read somewhere that the IR rate for mileage is 40p per
>>mile - does this mean that I can claim 40p - 12p = 28p per mile back
>>through my tax return and reduce my tax liability by the number of
>>business miles multiplied by 28p?
>
> Yes, you can. I've done it in the past, when the company reimbursed me
> at 45p, and the rate for my car was 63p.
> -- 
> Terry Harper
> http://www.terry.harper.btinternet.co.uk

This applies only to using one's own vehicle, and not a company one.

In those days, one could claim finance interest also.
-- 
Doug Ramage

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