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Mileage Allowance For Self-Employed guide image

Mileage Allowance For Self-Employed

Motor expenses: Fixed rate Mileage allowance for self-employed

We prepare Online Tax Returns for just £130

If you are self-employed this is a simple way to claim your motor expenses. The rate is fixed by HMRC. You still have to keep a record of your business miles though.

The rate includes all running costs, capital allowances (depreciation) but excludes interest on a loan to buy the vehicle which can still be claimed if you use this method. HMRC will allow you to claim 45 pence per mile for the first 10,000 miles in a year and 25 pence thereafter.

For example, if your business miles were say 5,000 for the year. 5,000 x 45p = £2,250 can be claimed. You can also claim 24p per mile for a motor cycle and 20p per mile for a bicycle.

Please note: You cannot change from one method to another. Whatever method you adopt you have to stay with until you change the vehicle.

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Completing your Tax Return correctly, particularly when non-resident, is not an easy task and also can be very time consuming. For only £130 we can complete and file your Tax Return for you and ensure you claim all the allowable expenses and reliefs you are entitled to (Tax Treaty Claims and Capital Gains are subject to a £25 surcharge), saving you tax. Simply provide us with the information we ask for then leave the rest to us.

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