Wallachie Posted November 4, 2005 Report Share Posted November 4, 2005 I've just been informed today, that I can claim MAR from the Inland Revenue. I get 12p per mile from my employer, for using my personal car for business. Apparently, you can claim up to 40p per mile, so as I get 12p per mile I can claim 28p per mile up to a maximum of 10,000, and 13p per mile above 10,000. Saying as I cover approximately 20,000 business miles per year, and I haven't ever claimed this, I'm hoping for a rather fat cheque sometime early next year! If what I'm being told is correct (and I've checked with the Inland Revenue), all you have to do is complete a P87 form for each tax year, and send them off with your P11d and your P60. Link to comment Share on other sites More sharing options...
Milo Posted November 4, 2005 Report Share Posted November 4, 2005 You can only claim the tax back on the difference not the actual difference. I estimate my business miles every year and they change my tax code to suit so I effectively get a mini tax rebate every month rather than have to wait until the end of the year Link to comment Share on other sites More sharing options...
Wallachie Posted November 4, 2005 Author Report Share Posted November 4, 2005 [ QUOTE ] You can only claim the tax back on the difference not the actual difference. [/ QUOTE ] Sorry mate, I'm probably being dumb here but I'm not sure what you mean!?! Link to comment Share on other sites More sharing options...
Milo Posted November 4, 2005 Report Share Posted November 4, 2005 Say you do 10,000 miles and your employer pays you 12p per mile (against the taxman's 40p maximum). 10,000 x 28p = £2800 You can't claim the £2,800 back but you can claim tax back on that amount: If you pay tax at 22% you can claim 0.22 x £2800 = £616 If you pay tax at 40% you can claim 0.40 x £2800 = £1120 Link to comment Share on other sites More sharing options...
richy_uk Posted November 4, 2005 Report Share Posted November 4, 2005 That's what I've done for the last 3 years, nice to get a cheque from the Inland Revenue rather than sending them one. Link to comment Share on other sites More sharing options...
max_b Posted November 4, 2005 Report Share Posted November 4, 2005 can anybody confirm how long you have after the last tax year has passed to claim? Link to comment Share on other sites More sharing options...
R32North Posted November 4, 2005 Report Share Posted November 4, 2005 See here ! MAR Link to comment Share on other sites More sharing options...
Milo Posted November 4, 2005 Report Share Posted November 4, 2005 [ QUOTE ] can anybody confirm how long you have after the last tax year has passed to claim? [/ QUOTE ] 6 years I would imagine as it is like any other overpaid tax linky Link to comment Share on other sites More sharing options...
max_b Posted November 4, 2005 Report Share Posted November 4, 2005 [ QUOTE ] [ QUOTE ] can anybody confirm how long you have after the last tax year has passed to claim? [/ QUOTE ] 6 years I would imagine as it is like any other overpaid tax linky [/ QUOTE ] thought it was 6, time to get of my arse and get last years claim sorted! Link to comment Share on other sites More sharing options...
P_G Posted November 6, 2005 Report Share Posted November 6, 2005 Just out of curiosity, what if you don't get a P60 from your employer. I heard all about this from my neighbour and I've clocked up just under 10,000 business miles in my frst year with present company. When I asked them about a P60 they said I wouldn't get one as I didn't have a pension or healthcare with them... sorry but thats nothing to do with mileage. I have all my expenses sheets for the '04-'05 tax year, can you just submit the figures on self assessment on line yourself? Link to comment Share on other sites More sharing options...
shark_90 Posted November 6, 2005 Report Share Posted November 6, 2005 Surely if you are employed in the full meaning of the word, you must get a P60 from them? Link to comment Share on other sites More sharing options...
P_G Posted November 6, 2005 Report Share Posted November 6, 2005 Sorry, I meant a P11-D, DT's kicking in after yesterday, I'm away to get a Chinese to sort myself out. Link to comment Share on other sites More sharing options...
Milo Posted November 6, 2005 Report Share Posted November 6, 2005 You don't need a P11D to claim your tax back. They'll take your word for it but be aware they can/do check the mileage with your employer. If you drive a company car, the P11D shows the car as a taxable benefit. Mileage allowance is not a taxable benefit* (it's there to compensate you for your fuel costs) so it is not included on your P11D. * it is not taxable as long as it is within accepted limits i.e. if your employer started paying you 80p a mile fuel allowance for a 1.2 Corsa then it is clearly a source of income which is liable for tax Link to comment Share on other sites More sharing options...
shark_90 Posted November 6, 2005 Report Share Posted November 6, 2005 Top advice Milo Link to comment Share on other sites More sharing options...
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