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This is page 1 of 1 (This thread has 5 messages.)
I know that you can claim 45p a mile.Where do I log it? As a monthly expense? So say every month I do 500 miles. Do I do: 500 x 0.45=£225. Then add this to my monthly outgoings?Thanks
You claim it off your paying clients. Say you had to drive 50 miles to meetings with them, then you add 50x45p to the bill you submit to them, probably along with other incidental expenses.
Do what Melanie says and also add to your overheads. Because it needs to be deducted off your income when it comes to doing your tax return
Thanks and then deduct it along with other expenses such as advertising, stationery,etc?
I charge it to clients and also keep a record of all the mileage that I do for my work purposes. There is a simpler system in place for sole traders, whereby we can just put in what we've earned, what we've spent and what mileage we've done.
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