If a van is solely used for business then does every journey need to be logged to claim mileage expenses, or total yearly /monthly mileage be OK?

[Raf]

If a van is solely used for business then does every journey need to be logged to claim mileage expenses or total yearly /monthly mileage be OK? #

thank you

 

[DWS]

Are you claiming for mileage rates or actual expenses for the van!’
If mileage then always best to have a record of the business use, if actual expenses then you just need the receipts for all costs.

 

[HFE Signs]

If its a commercial vehicle and used for business only, you need all receipts for every cost the vehicle incurs, such as fuel, service, maintenance. No need to log any mileage.

 

[DWS]

If its a commercial vehicle and used for business only, you need all receipts for every cost the vehicle incurs, such as fuel, service, maintenance. No need to log any mileage.

What about if they want to claim the mileage rates and not actual costs?
Then they need the mileage!

 

[HFE Signs]

What about if they want to claim the mileage rates and not actual costs?
Then they need the mileage!

Assuming the vehicle is owned by the company?

Why would you claim mileage? If the company owns the vehicle and its classified as commercial commercial and the mileage is all business then its 100% through the books. It makes no sense to do it any other way. Simply 100% tax deductible.

 

[DWS]

Assuming the vehicle is owned by the company?

Why would you claim mileage? If the company owns the vehicle and its classified as commercial commercial and the mileage is all business then its 100% through the books. It makes no sense to do it any other way. Simply 100% tax deductible.

Assuming the vehicle is owned by the company?

Why would you claim mileage? If the company owns the vehicle and its classified as commercial commercial and the mileage is all business then its 100% through the books. It makes no sense to do it any other way. Simply 100% tax deductible.

Where is the mention of the van being owned by a Company? Not that it would make a difference
Like anything in business you run the figures and see which way is the most beneficial.
To say it makes ‘no sense to do it any other way’ is incorrect, you need to base a decision on each case.
The van may have only cost £200 and they did 50,000 miles during the year in which case it may well be better to claim mileage as this is also 100% tax deductible!
It’s not a case of one size fits all

 

[HFE Signs]

Where is the mention of the van being owned by a Company? Not that it would make a difference
Like anything in business you run the figures and see which way is the most beneficial.
To say it makes ‘no sense to do it any other way’ is incorrect, you need to base a decision on each case.
The van may have only cost £200 and they did 50,000 miles during the year in which case it may well be better to claim mileage as this is also 100% tax deductible!
It’s not a case of one size fits all

Well if the van cost £200 you'd be expecting some pretty hefty repair bills, you'd be better off claiming them at 100% rather than mileage.

 

[DWS]

Well if the van cost £200 you'd be expecting some pretty hefty repair bills, you'd be better off claiming them at 100% rather than mileage.

More assumptions

 

[JEREMY HAWKE]

If the van is capable is doing all that for £200 I will give you £500 for it

If the van is only working then the milage scheme is normally not used unless the thing is not owned by the company or the owner and is not part of a lease / rental agreement to the company or sole trader

We dont come across the milage scheme in this game very often

 

[DWS]

If the van is capable is doing all that for £200 I will give you £500 for it

If the van is only working then the milage scheme is normally not used unless the thing is not owned by the company or the owner and is not part of a lease / rental agreement to the company or sole trader

We dont come across the milage scheme in this game very often

I am not saying you or HFE signs are wrong, and generally with a van it is usually better to claim actual costs, but I have had clients where it has been more tax efficient to claim mileage, my point was you can not just say it ‘makes no sense’ to claim mileage, every clients situation is different and needs to be looked at to see which is the most beneficial.

 

[JEREMY HAWKE]

I am not saying you or HFE signs are wrong, and generally with a van it is usually better to claim actual costs, but I have had clients where it has been more tax efficient to claim mileage, my point was you can not just say it ‘makes no sense’ to claim mileage, every clients situation is different and needs to be looked at to see which is the most beneficial.

The sameday courier industry sees our vehicles doing 70 to 95 K per year I have always had good knowledge on the HMRC Mileage allowance but its just not done in our sector
In my view with the vans on this work the maintaince schedule is up there with an EASYJET Airbus If you claim for an engine and a gearbox in one year with that asset spending sometime off the road you could end up worse off !

HMRC would also be asking questions if you are claiming for a vehicle doing 90K a year . They would want to know why it is not part of the company or that persons self employ

 

[DWS]

The sameday courier industry sees our vehicles doing 70 to 95 K per year I have always had good knowledge on the HMRC Mileage allowance but its just not done in our sector
In my view with the vans on this work the maintaince schedule is up there with an EASYJET Airbus If you claim for an engine and a gearbox in one year with that asset spending sometime off the road you could end up worse off !

HMRC would also be asking questions if you are claiming for a vehicle doing 90K a year . They would want to know why it is not part of the company or that persons self employ

As I said, each case has to be treated on its own merit, in your case you have looked at it and you are better off claiming actual costs, but just because it is better for your business does not mean it is best for all.
HMRC can ask all the questions they like but as long as the claim is within the rules then they have no say in the matter.

 

[HFE Signs]

Why ask for advice from people if you're unwilling to accept it? People here have yrs of experience and a wealth of knowledge. We're not here for point scoring, we're here to help each other.

 

[DWS]

Why ask for advice from people if you're unwilling to accept it? People here have yrs of experience and a wealth of knowledge. We're not here for point scoring, we're here to help each other.

Is that reply aimed me or the OP?
If the OP then they do not seem to have said anything apart from the first post, if at me then I am a qualified Accountant who has helped loads of people on this forum over the years, so not sure what you are getting at really.

 

[JEREMY HAWKE]

Why ask for advice from people if you're unwilling to accept it? People here have yrs of experience and a wealth of knowledge. We're not here for point scoring, we're here to help each other.

Yeh I agree with that
I'm only point scoring if there is big money involved