What's the pence-per-mile running cost of a V6-24V?

[HMG1K]

My accountant is asking - he's doing my returns.

He's thinking 30 pence-per-mile.

Is that in the right ball park or wildly out?

Thank you! :sunny:

[miller]

why ask? just go for the maximum allowable, surely if your accountant is working for you then this question need not be asked?

Its over 2.5 so next year the reclaimable allowance increases from 18p to 20p. Per mile i think 40pence per mile is sufficient? maybe more, i have heard 45-50ppm being allowed


Mike

[HMG1K]

He's being super-safe :-(

I've already gone from 20p to the 30p. :-)

Thanks for the feedback, Mike - I'm going to argue for the 40ppm. :-)

[miller]

stop being safe! :scholar: just picture the current fuel costs and how quickly it rises. Even at 40ppm its too damn close to cover running costs efficiently:inquisiti

[Spirit]

If you're an employee using your own car/van then it's 40ppm for the first 10k and then 25ppm over 10k

[miller]

If you're an employee using your own car/van then it's 40ppm for the first 10k and then 25ppm over 10k

Havent the AA or RAC recommended a higher figure recently? AFAIK its in or in the pipeline.

[Confused]

Over the last 3 months, and 10 tanks of fuel, our V6 has been £0.162/mi (29.72mpg)

That's not including any servicing/insurance/tax costs, however.

[HMG1K]

If you're an employee using your own car/van then it's 40ppm for the first 10k and then 25ppm over 10k

That's spot on then - I do around 5k a year work and pleasure, 3k of that is work, so 40ppm is a great start.

Thanks everyone for your input - I really appreciate it! /bounce

[Rambaud]

If you're an employee using your own car/van then it's 40ppm for the first 10k and then 25ppm over 10k

By concession, HMRC will allow the self-employed to claim the same rates- provided their turnover is below the VAT Registration threshold. Finance interest to acquire the vehicle is allowed as well - but only for the self-employed. However, it may be better for the self-employed to claim the actual motoring costs (fuel, repairs, insurance etc)+ Capital Allowances - a restriction will be necessary to reflect any private use.

The Advisory Fuel Rates for company cars changed on 1 December 2009 and range from 7p per mile to 20p per mile depending on fuel type and engine capacity. The same rates can be used to re-claim the VAT element (receipts need to be kept).