If you're a limited company director, employee, or sole trader, and you use a personal vehicle for business use, then claiming back your Mileage Allowance Expenses is a no brainer.

Check out our comprehensive blog post on Mileage Allowance Payments: https://aidhanfinancial.com/how-to-cl...

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The business mileage rates are as follows:

Car / Van - £0.45 per mile for the first 10,000 miles, £0.25 thereafter.
Motorcycle - £0.25 per mile.
Bike* - £0.20 per mile.
*Only limited companies can claim mileage allowances for bikes. Sole traders are unable to.

Now this is important for sole traders and limited companies of a small amount of employees. You can only claim back the mileage allowance if your trips are solely for business use. This means any personal trips or your daily commute cannot be claimed back. We'll be a doing a more comprehensive video about buying/leasing a company car in the very near future, so make sure you click the subscribe icon and the notification bell to have access to this as soon as it's uploaded!

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#mileage allowance #company car tax