business mileage rates
- Thread starter coop
- Start date
For what its worth we get 80c a mile...but then we wouldn't do anywhere near 4000 miles p.a.
In my last job the flat rate was 50p a mile...which was translated to 63.5 cent with the introduction of the euro...miserable so & so wouldn't even round it up to 65 cent
In my last job the flat rate was 50p a mile...which was translated to 63.5 cent with the introduction of the euro...miserable so & so wouldn't even round it up to 65 cent
Kiddo said:
Am I correct in stating that if you do 5000miles - you are entitled to
5000@€1.24ea
or is it
4000@€1.24 + 1000@€0.57ea
Thanks,
Lorz
C
cent
Guest
Sorry to be the bearer of bad news......for all you guys reading this thread in the future!!
I am going to use the rates from 1 July 2007 as its all I have. Link here [broken link removed]
Example 1
Assuming you do 7,000 km per annum and engine cap of 1.2 to 1.5.
You would claim 7,000 at 30.96c i.e. total claim of €2,167 and NOT 6437km at 61.66c and the balance at 30.96c
Example 2
Assuming you do 6437km per annum and engine cap of 1.2 to 1.5.
You can claim 6436 at 61.66c i.e. total claim of €3,969.
I have confirmed this with the two REVENUE AUDIT guys I have sitting here in my office doing a revenue audit!!!!! They confirmed that that is how their own motoring expenses are calculated........ :-(
I am going to use the rates from 1 July 2007 as its all I have. Link here [broken link removed]
Example 1
Assuming you do 7,000 km per annum and engine cap of 1.2 to 1.5.
You would claim 7,000 at 30.96c i.e. total claim of €2,167 and NOT 6437km at 61.66c and the balance at 30.96c
Example 2
Assuming you do 6437km per annum and engine cap of 1.2 to 1.5.
You can claim 6436 at 61.66c i.e. total claim of €3,969.
I have confirmed this with the two REVENUE AUDIT guys I have sitting here in my office doing a revenue audit!!!!! They confirmed that that is how their own motoring expenses are calculated........ :-(
This is not the advice I got (from an accountant).
It makes no sense, unless you knew beforehand what mileage you were going to do, which in general isn't the case.
Either you'd have to wait for the end of the year to be re-imbrused anything, or you'd have to reimburse the company a tidy enough sum once you go over the magic threshold.
It makes no sense, unless you knew beforehand what mileage you were going to do, which in general isn't the case.
Either you'd have to wait for the end of the year to be re-imbrused anything, or you'd have to reimburse the company a tidy enough sum once you go over the magic threshold.
Marathon Man
Registered User
- Messages
- 176
This is incorrect!
The mileage rates are "Up to 6437km" and "6438km and over". No arguements. That is the position, irrespective of Audit advice - there must have been a misunderstanding here.
Some of the posters are clearly still being paid per mile, instead of per km.
1. To convert the rates from rate/km to rate /mile, multiply the km rate by 1.609344.
2. To convert the distances from miles to km, divide the km by 1.609344, i.e. 6437km = approx. 4000 miles (actually 376metres short <grin>)
sinbadsailor
Registered User
- Messages
- 240
Looking at the allowable mileage then.
Is there a percentage/ratio that is used to distinguish if you do enough work at one place of business as opposed to another in order to make sure you qualify for business mileage.
Basically, limited company, registered address is my home, 10-15% of my turnover somes from work done at this location, the rest from 1-2 client sites over a 12 month period. I want to claim mileage from home to these client sites on a daily basis?
I cannot seem to get a straight aswer on this?
Is there a percentage/ratio that is used to distinguish if you do enough work at one place of business as opposed to another in order to make sure you qualify for business mileage.
Basically, limited company, registered address is my home, 10-15% of my turnover somes from work done at this location, the rest from 1-2 client sites over a 12 month period. I want to claim mileage from home to these client sites on a daily basis?
I cannot seem to get a straight aswer on this?
K
KalEl
Guest
That is complete nonsense...I just rang my accountant to confirm.
As other posters pointed out it makes little sense.