How to Claim Mileage Allowance Relief for Your Business Travel
HMRC has set specific mileage allowance rates for those using their own vehicles for business-related travel. If you are a self-employed individual who uses your vehicle for any business usage, you will be able to claim a mileage allowance for the tax year.
What Are the Mileage Allowance Rates?
The approved mileage allowance rates are as follows:
| Vehicle type | First 10,000 miles | Above 10,000 miles |
| Cars and vans | 45p per mile | 25p per mile |
| Motorcycles | 24p per mile | 24p per mile |
| Bicycles | 20p per mile | 20p per mile |
The above rates are also applicable in the case of an electric vehicle.
What Records Do You Need to Keep?
If you are looking to claim Mileage Allowance Relief, you must have the following records:
- Date of Travel
- Start and end address of each trip, including the postcodes
- Number of miles travelled
- Purpose of the journey
How to Claim Mileage Allowance Relief?
If you have all these records, all you need to do is claim your Mileage Allowance through a self-assessment tax return. You can do this online or by post. You’ll need to enter the total amount of miles you’ve travelled for business purposes and the total amount of expenses you’ve incurred. Don’t forget to visit our complete guide on Mileage Allowance Relief to learn about it in greater detail.
