1st Year Self Employed

[just add water sparks]

Hi, This is my first year as C.I.S have previously been under an umbrella company and p.a.y.e. When i was working through a composite company(PAYROLL COMPANY) under the umbrella scheme i was able to claim mileage of 40p a mile for the 1st 10,000 miles.I understand under the c.i.s self-employed scenario i can still claim 40p a mile for usage of my car.I have made 10,000 business usage so far,so i assume i will receive £4,000 in a tax rebate but compared to other sparks this seems really high so i assume i've got it wrong????Can anyone confirm this,thanks

 

[High Tower]

Hi, This is my first year as C.I.S have previously been under an umbrella company and p.a.y.e. When i was working through a composite company(PAYROLL COMPANY) under the umbrella scheme i was able to claim mileage of 40p a mile for the 1st 10,000 miles.I understand under the c.i.s self-employed scenario i can still claim 40p a mile for usage of my car.I have made 10,000 business usage so far,so i assume i will receive £4,000 in a tax rebate but compared to other sparks this seems really high so i assume i've got it wrong????Can anyone confirm this,thanks

If only lol, i think thats whats called wishfull thinking

You can claim the tax back on £4000 of earnings @20%

so a rebate of aprox £800

 

[wattsup]

only mp's know how the tax system works..I might stand at the next election...-

 

[mars6394]

ive just done the same milage rebate i got £860 my millage was 19,000 miles do you get paid expenses from your employer aswell as all that gets taken into concideration n it takes bloody ages for it to come through mine took 11 months bt yes you are entiteled to a rebate if you use your own company vehicle.
http://www.expensestaxrebate.co.uk/documents/Content/ETRMileageTaxRefund.pdf
thts the link for what you can claim

 

[martysparky]

Hi, This is my first year as C.I.S have previously been under an umbrella company and p.a.y.e. When i was working through a composite company(PAYROLL COMPANY) under the umbrella scheme i was able to claim mileage of 40p a mile for the 1st 10,000 miles.I understand under the c.i.s self-employed scenario i can still claim 40p a mile for usage of my car.I have made 10,000 business usage so far,so i assume i will receive £4,000 in a tax rebate but compared to other sparks this seems really high so i assume i've got it wrong????Can anyone confirm this,thanks

You need a dedicated work vehicle used only for that purpose that is if you have another car otherwise they will half what you claim.