If you’re a regular road warrior, with your jacket hanging on that peg in the back of your BMW or Mondeo, you’ll need to keep an accurate log of your business trips.
Tags: mileage log
One way of saving big money on your tax bill is by claiming back travel expenses, decidedly if you use your vehicle. But to do that, HMRC requires you to keep an accurate log of all your business journeys.
If you’re in business or drive a company car, you no doubt have to keep accurate records of all your car mileage. It’s a pain, isn’t it? Or is it? With MileIQ’s handheld mileage-logging app, you can say goodbye to bodging, fudging and guessing.
We believe that MileIQ is the best way to track your mileage for taxes. But, we understand that some of you may want to look for MileIQ alternatives. Here are some of the other methods to track your mileage.
If you use your personal car for work-related journeys, you can claim tax back on your mileage using the current HMRC mileage rate. Here’s a look at the mileage rates for 2018 and a rundown of how to use them to calculate your business mileage deduction.