Use bike for work: claim it as a tax allowance?

[Ribenapigeon]

Most of my miles are for work. I get milage from my employer. I'm wondering if I can set my bikes cost against my income tax. I'm a full time employee on PAYE.

Cheers.

[P.addy]

Do you get mileage to the destination or to the shop across the road?

Every little helps.

[daemonoid]

[Ribenapigeon]

[Itchy]

No you can't claim it against your income tax. If your boss doesn't pay you the going rate then you can claim it off your tax.


A lot of shenanigans goes about in this where people claim the car rate 45p but ride a motorbike. 24p a mile.
____________________
Spain 2008France 2007Big one 2009 We all die. The goal isn't to live forever, the goal is to create something that will. In the end, your life will flash before your eyes. Make sure it is worth watching.

[covent.gardens]

I did come across a document that explained how to claim your motorcycle against your Income Tax. I will show you the Linklater.

[Dibble]

Do your Company pay mileage? You can claim the difference between this and 24p back from the taxman.

I ride a 1999 VFR and make a loss at 24p when you include Class 1 business insurance " Commute to more than one place of work in a year Sir? That's not commuting that's Business use and will cost extra"

As Itchy said car drivers can claim 45p for the first 10,000 miles then 24p Which is realistic if you run something new enough for depreciation to have a big effect.

Maybe if MAG or the BMF had actually cared about Bikers.........

[scorps]

[WD Forte]

[Ribenapigeon]

What if I created my own company? Like all those celebs and just posted loses every year and put my bike against the loses. Or somesuch.

[PT1989]

[Kickstart]

Hi

Running a company means having clients (and may also be against your full time contract of employment), so while it might technically be possible it is unlikely to be an option. Plus the accountancy costs of running a company would probably wipe out any possible tax savings on a company bike.

As to mileage allowance, when I worked for npower they paid 5p a mile as the allowance for a motorcycle .

All the best

Keith
____________________
Traxpics, track day and racing photographs - Bimota Forum - Bike performance / thrust graphs for choosing gearing

[mentalboy]

Remember it's only the business miles you can claim for not the commute to and from work
____________________
Make mine a Corona.

[pinkyfloyd]

As far as I know you can not claim for travel to and from your place of work or personal mileage but any mileage done for work you can claim for.

I can claim for my working days on the motorcycle as an instructor but they will not cover me for the 8 miles each way to and from work.
____________________
illuminateTHEmind wrote: I am just more evolved than most of you guys... this allows me to pick of things quickly which would have normally taken the common man years to master
Hockeystorm65:.well there are childish arguments...there are very childish arguments.....there are really stupid childish arguments and now there are......Pinkfloyd arguments!
Teflon-Mike:I think I agree with just about all Pinky has said.

[map]

[Dibble]

[Llama-Farmer]

[Imonster]

[Bubblin77]

I get mileage whether I use a bike or a car, and the money I get per mile is just less that the actual cost to me (in effect I pay a little bit, not good but a given with the work)

I keep my fuel bills then submit a tax relief form, where I can claim the tax back on the difference between cost and actual to reduce that difference a little more.

I think in reality that's all you could possibly manage, even if you set up your own company, the extra costs involved in admin will far out way benefits from the fiddle, plus you could be sent to jail if caught with fraud.
____________________
Kawasaki Z800 (SOLD)

[Llama-Farmer]

[Andy_Pagin]

[pinkyfloyd]

[Itchy]

[Kickstart]

[Slacker24seve...]