Motor Expenses - Limited company

[Musty]

I am the sole director and shareholder of my company.
I use my private car for business (less than 10,000 miles/year). I record the cost of 40p/mile in my business costs. Should the company also refund me - as an employee - for the use of my private car. That was the case when I used to be an employee for a large company.

Many thanks

Musty

[elainec100@cheapaccounting]

You can claim the use of your private car for business at 40p / mile as you have done - this should be paid from the business bank account to your personal account.

So yes record in the company accounts and yes then refund the amount to you personally

[Musty]

Many thanks!:)