Using own car for your employed job
Discussion
Isn't it about time people using their private car for work matters were able to claim more than 45p per mile?
The 45p per mile allowed by the HMRC has remained the same for years whilst costs of owning and running a car have risen massively. The 45p per mile doesn't allow for costs such as insurance, servicing, tyres etc, never mind petrol.
A lot of employees are expected to use their personal car for business duties and are out of pocket as a result. I suppose you could buy a cheap snotter, but why should you have to?
The 45p per mile allowed by the HMRC has remained the same for years whilst costs of owning and running a car have risen massively. The 45p per mile doesn't allow for costs such as insurance, servicing, tyres etc, never mind petrol.
A lot of employees are expected to use their personal car for business duties and are out of pocket as a result. I suppose you could buy a cheap snotter, but why should you have to?
andygo said:
Isn't it about time people using their private car for work matters were able to claim more than 45p per mile?
The 45p per mile allowed by the HMRC has remained the same for years whilst costs of owning and running a car have risen massively. The 45p per mile doesn't allow for costs such as insurance, servicing, tyres etc, never mind petrol.
A lot of employees are expected to use their personal car for business duties and are out of pocket as a result. I suppose you could buy a cheap snotter, but why should you have to?
The 45p per mile hasn't changed in years - but then neither has the threshold for premium VED, or income tax thresholds, or IHT allowances, or...The 45p per mile allowed by the HMRC has remained the same for years whilst costs of owning and running a car have risen massively. The 45p per mile doesn't allow for costs such as insurance, servicing, tyres etc, never mind petrol.
A lot of employees are expected to use their personal car for business duties and are out of pocket as a result. I suppose you could buy a cheap snotter, but why should you have to?
andygo said:
Isn't it about time people using their private car for work matters were able to claim more than 45p per mile?
The 45p per mile allowed by the HMRC has remained the same for years whilst costs of owning and running a car have risen massively. The 45p per mile doesn't allow for costs such as insurance, servicing, tyres etc, never mind petrol.
A lot of employees are expected to use their personal car for business duties and are out of pocket as a result. I suppose you could buy a cheap snotter, but why should you have to?
Can't say I've ever felt out of pocket on 45p/mile, either in a shed, PHEV or EV. Maybe, you need to align your car to running costs or accept the hit (I know from experience the v8 Audi S4 wasn't compatible with 45p/mile...)The 45p per mile allowed by the HMRC has remained the same for years whilst costs of owning and running a car have risen massively. The 45p per mile doesn't allow for costs such as insurance, servicing, tyres etc, never mind petrol.
A lot of employees are expected to use their personal car for business duties and are out of pocket as a result. I suppose you could buy a cheap snotter, but why should you have to?
andygo said:
Isn't it about time people using their private car for work matters were able to claim more than 45p per mile?
The 45p per mile allowed by the HMRC has remained the same for years whilst costs of owning and running a car have risen massively. The 45p per mile doesn't allow for costs such as insurance, servicing, tyres etc, never mind petrol.
A lot of employees are expected to use their personal car for business duties and are out of pocket as a result. I suppose you could buy a cheap snotter, but why should you have to?
The rate hasn't changed since 2011/12, but then neither has fuel duty. Insurance, servicing and the capital costs have gone up in that time I would agree. The 45p per mile allowed by the HMRC has remained the same for years whilst costs of owning and running a car have risen massively. The 45p per mile doesn't allow for costs such as insurance, servicing, tyres etc, never mind petrol.
A lot of employees are expected to use their personal car for business duties and are out of pocket as a result. I suppose you could buy a cheap snotter, but why should you have to?
Evanivitch said:
Can't say I've ever felt out of pocket on 45p/mile, either in a shed, PHEV or EV. Maybe, you need to align your car to running costs or accept the hit (I know from experience the v8 Audi S4 wasn't compatible with 45p/mile...)
My E92 M3 wasn't either so I got a cheap electric lease. No boring miles in the M3 and a free car. Lovely.andygo said:
The 45p per mile doesn't allow for costs such as insurance, servicing, tyres etc, never mind petrol.
What car are you running?!I had a 5 series BMW and I think to run it, so excluding buying the car and the associated depreciation, was 16p per mile over 4.5 years.
Let's assume you do 5000 miles for work per year.
45p per mile gives you £2250 for this business mileage.
If you're doing just 30mpg then fuel for that mileage is just over a grand, assuming £1.40 per litre.
Unless you're running a Bentley, I can't see how maintenance for 5000 miles equates to over £1200.
Muzzer79 said:
What car are you running?!
I had a 5 series BMW and I think to run it, so excluding buying the car and the associated depreciation, was 16p per mile over 4.5 years.
Let's assume you do 5000 miles for work per year.
45p per mile gives you £2250 for this business mileage.
If you're doing just 30mpg then fuel for that mileage is just over a grand, assuming £1.40 per litre.
Unless you're running a Bentley, I can't see how maintenance for 5000 miles equates to over £1200.
It's supposed to also cover depreciation of the vehicle too, which is pretty high for most vehicles.I had a 5 series BMW and I think to run it, so excluding buying the car and the associated depreciation, was 16p per mile over 4.5 years.
Let's assume you do 5000 miles for work per year.
45p per mile gives you £2250 for this business mileage.
If you're doing just 30mpg then fuel for that mileage is just over a grand, assuming £1.40 per litre.
Unless you're running a Bentley, I can't see how maintenance for 5000 miles equates to over £1200.
The figures were calculated by the AA and RAC and provided to HMRC many years ago. Before that they had been set at around 25p per mile and those rates had been around for a long time too.
It is government policy to NOT increase margins, thresholds, allowances etc in line wth inflation - apart from State Pension.
abzmike said:
For EV owners, my company pays the official EV rate of 7ppm, as I discovered to my surprise recently. Of course charging if you can do it at home is cheap, but you still need to have the thing.
Pretty stingy on their part if it is your own (not company) car. AFAIK you can still claim tax relief on the difference between that and the 45p rate.abzmike said:
For EV owners, my company pays the official EV rate of 7ppm, as I discovered to my surprise recently. Of course charging if you can do it at home is cheap, but you still need to have the thing.
That's the rate if it's a company car... if it's a private car it doesn't matter what it is, 45p is the amount you can claim.BoRED S2upid said:
Pretty sure it’s been 45ppm for 30 years.
Pretty sure it was more than that in the mid/late 90s, if you had something with a big engine.With petrol at about 45p a litre I was in profit with my V6 shed.
These days, diesel is 15p a mile or so, shed maintenance/depreciation maybe the same again. Extra insurance for business use is buttons for me, YMMV.
It's all OK until you get a puncture or someone runs into you.
The bad things that you average out over the decade can hurt short term.
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