question re money tax and petrol lol

[dj-jaym]

Ok for example,

2 mobile dj's have 2 well companys

work together on one night,

They get 500 between them, They used one viechle to get there and approximation of fuel is 35 quid, The owner of the veichcle made no records of mileage and filled the tank up when there was need for fuel, Although this wasnt all used ? How do we work out how much fuel can be claimed back ?

[5 Star Roadshows]

You don't have to claim the petrol you can just claim the mileage, which can work out much better. other than that an estimation should just be ok you can all ways ask your accountant.

[colinm345]

So does the 45p per mile also allow for depreciation and repairs,I think not?

[A1DL]

Ok for example,
2 mobile dj's have 2 well companys

what is a "well company"? not come across that before, is this some measurement of fiscal performance?



They get 500 between them

Are you saying two contracts exist with the customer in respect of this job, with two invoices?



They used one viechle to get there and approximation of fuel is 35 quid, The owner of the veichcle made no records of mileage and filled the tank up when there was need for fuel, Although this wasnt all used ? How do we work out how much fuel can be claimed back ?

is this vehicle owned by one of the companies, or by a private individual using the vehicle on company business?

if the vehicle is owned by the company, then surely the depreciation, repair costs and fuel bills are paid by the company?

[Corabar Entertainment]

From memory (and I wouldn't swear to it, so I stand to be corrected) but isn't the IR's limit 40p per mile for cars & vans? .... and I am talking about employer paying mileage allowance here