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Do we all pay 40% tax ?
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<blockquote data-quote="ProDave" data-source="post: 486124" data-attributes="member: 6969"><p>When you opt to charge business mileage at a fixed HMRC rate, then you personally take on and pay for the vehicle maintenance (that is how I operate) the alternative is that the company owns the vehicle and you charge actual running costs to the business. You need to work out what is best for you.</p><p></p><p>Think of all the other times like yesterday, I called in on the way home to connect a cooker. Took 5 minutes, charged £20 Travel expenses about £2 so £18 gross. hmrc £3.60 me £14.40 and £2 in the pot to fuel and maintain the vehicle.</p></blockquote><p></p>
[QUOTE="ProDave, post: 486124, member: 6969"] When you opt to charge business mileage at a fixed HMRC rate, then you personally take on and pay for the vehicle maintenance (that is how I operate) the alternative is that the company owns the vehicle and you charge actual running costs to the business. You need to work out what is best for you. Think of all the other times like yesterday, I called in on the way home to connect a cooker. Took 5 minutes, charged £20 Travel expenses about £2 so £18 gross. hmrc £3.60 me £14.40 and £2 in the pot to fuel and maintain the vehicle. [/QUOTE]
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Do we all pay 40% tax ?
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