vat on mileage allowance - what figures do you put on the fo vat on mileage allowance - what figures do you put on the fo
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  1. #1

    Mark Snowdon

    Guest

    Default vat on mileage allowance - what figures do you put on the fo

    I have just got around to claiming back vat on the milage allowance for company use of a private vehicle.

    The ir tell me that 1.5p/mile is the deemed vat element of the milage allowance.

    q: what figures do you put on the vat form. If I use the mileage amount paid I am looking at putting that I have spent over £10K with a vat element of £390 which is obviously going to look odd to the vat man.

    Maybe I just put a letter in to them about it ?

  2. #2

    www libertyaccounts com

    Guest

    Default VAT on mileage allowance

    Say you claim 70 miles at 40p/mile on an 1800cc diesel vehicle:

    Total claimed = 70 * .4 = £28.00

    Total fuel element from IR rates is 9p/mile 70 * .09 = £6.30

    VAT element recoverable is 6.30 * (0.175 / 1.175) = £0.94


    VAT100 figures
    ----------------------

    BOX 4 (Input Tax) £0.94

    BOX 7 (Vat excl value of inputs) £5.36


    I hope this helps.

    You can also go back 3 years if you have records.

  3. #3

    Mark Snowdon

    Guest

    Default thanks

    thanks liberty.

    it was the fuel element that I hadnt been able to track down, all I had was the mileage allowance which would give the odd figures.

    Found it - for a > 2000 petrol 14p/mile fuel element or 2p/mile vat

    I am going back 3 years.

  4. #4

    Default

    Using this method does this page http://www.menzies.co.uk/news_room/tax+news/131

    mean that the rate is now 10p per mile so effectivly I can claim 1.175p per mile for a 1800cc diesel

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