The following rates represent the maximum tax free mileage allowances for employees using their own vehicles for business use. Any excess is taxable. If the employee receives less than the statutory rate, they can claim tax relief on the difference.
Tax – Rates per business mile
Type of vehicle First 10,000 miles Above 10,000
Cars and vans 45p 25p
Motorcycles 24p 24p
Cycles 20p 20p
Remember If you wish to renew your claims, make sure that you submit the forms before the 31 July 2011 deadline otherwise your payments may stop.
Please remember the deadline to submit the following forms P9d and P11d’s must reach HMRC by 6th July. And if tthere is any class 1A NICs declared on form P11D must reach HMRC by 19th July.