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Great. Last question: on which part of the expenses section do I add the flat rate mileage amount please?
So, am I right in thinking that I can now do one of two things:
1. Use the figure £2553 (mileage:5,674 x 0.45) as a business expense.
2. Add up all of the actual costs of petrol, insurance, tyre replacement, road tax, breakdown cover, servicing, steering column greasing and then work out the % which relates to business use (in relation to personal use) and use that figure.
Also, if that is correct am I right in thinking that going forward for future self assessments I must stick to whichever I have chosen for this assessment period?
So, is there no way I can claim both my business mileage and the other expenses I mentioned together?
Thanks again for that.
I have two further queries, please:
My business mileage was 5674 between April 5th 2021 to April 6th 2022. I have calculated that I can claim this as an expense by multiplying 5674 by 0.45. This gives £2553 as fuel expense. Is that correct, please?
I also had the following extra expenses during the above period: MOT, breakdown cover, new tyres x2, steering column greasing, road tax.
These combined costs, as I understand it, I need to work out as a percentage of business use when also accounting for personal use. Looking at my car's MOT history, I only have mileage figures between Late November/Early December 2020 (41,358), 2021 (47,042) and 2022 (55,843), when the MOTs were done. This makes calculating the % for personal and business use unclear to me.
How do I go about working out my overall mileage between April 5th 2021 to April 6th 2022, please?
Thanks very much. I asked because I have already benefitted through declaring my mileage monthly via UC and am surprised if this can also be used as an expense when submitting my SA. It surely would mean me benefitting twice: - once, through UC payments and then a second time as a business expense in my SA return. Please clarify this before I proceed. Kind regards,
Hi, I am unsure if I can add my business mileage to my self assessment tax return as I do this already monthly when claiming Universal Credit.
Many thanks for any help.