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Discussion in 'Managing Your Business' started by Gav, Mar 16, 2011.
Do you put all your fuel in as an experience? Or can you only put so much in?
If it is a work vehicle 90% is a safe figure and 30% if you have a Family car ( used when giving quotes)
Only have the One Vehicle I was told by my accountant 80% work 20% pleasure is a safe figure
I have been self employed for 20 years and work on these figures over the years with no problems.
If you put 100% in they may question it because no one solely uses a vehicle for work purposes.example pop down the shop for Mars bar and paper,it sounds petty but we all know how the Tax man works
Great sounds about right I have pretty much done this, entered some receipts for fuel as expences but also a few times have filled up and not bothered putting it through
If its a van you have then HMRC expect it all to be fuel so yes put it all in if its a car then you need to keep back at least 10% for personal mileage
oh right that's what I thought as van is only used for work. But read other places that you should not put all in.
yeah i got that directlly from HMRC
Some keep a mileage log, and work out the percentage.
Bear in mind though that if you are using the vehicle for work it may have ladders fitted, and a full load of water - so you would get less mpg when using for work, than using it empty, without ladders for private.
Your calculation is absolutely correct.