If they drive :
Note: Rates are reviewed quarterly by the AA based on fuel prices, vehicle efficiency, and other motoring costs. aa approved mileage rates
For employees utilizing their personal vehicles for business travel, HMRC defines specific statutory limits. Any reimbursement paid up to these rates is completely exempt from income tax and National Insurance contributions (NICs). Vehicle Type First 10,000 Business Miles Each Mile Over 10,000 45p per mile 25p per mile Motorcycles 24p per mile 24p per mile Bicycles 20p per mile 20p per mile 👥 The Passenger Bonus Rate If they drive : Note: Rates are reviewed
Let's say you drove 8,000 business miles in the 2022-2023 tax year. Using the AA approved mileage rates, your mileage expenses would be: Vehicle Type First 10,000 Business Miles Each Mile
The AA approved mileage rates provide a useful guide for motorists who need to claim mileage expenses for business purposes. By understanding the current rates and how to use them, you can simplify your expense claims and ensure you're taking advantage of the tax-efficient benefits available to you. Always keep accurate records of your business miles and consult with your accountant or tax advisor if you're unsure about any aspect of claiming mileage expenses.