Self Employed - Mileage expense question

I think this is right but an accountant may verify this: If the vehicle is owned by the business and the running costs are payed for by the business, then you can get the business to pay for the fuel for business use. You should then pay tax on the van, this will depend on the age of the van, My van is over 3 years old so i pay £350 per year, if it is newer then it will be around £600 (i think). Becuase the van is owned by the business, you can claim capital depreciation of the van. And all other expenses. You cannot claim a personal milage allowance if the business owns it. However if you own the van, you will not pay tax on it (exept for road tax), you cant claim the fuel, and you cant ask the business to pay for running expenses. but however you can claim your milage back at up to 39p per mile if i am correct, which does add up to quite a bit, Your local business link will be more than happy to clairfy this, as will the Inland revenue. Be warned though, i f you do choose to put it through the business, then the tax payable from 2007 will be structured the same as company car tax, to make it fare, so your tax will jump up from there, (moan: for small businesses like myself this means my delivery drivers will earn less money unless i increase the wage to cover the tax rise, Very good thinking Mr Brown, another obstacle for small business!) That is how i understand the policy on company vans, but like i said, an accountant on here will verify\recity the above statements! I (and my accoountant) worked it out and doing around 15,000 miles a year, i am better off running the vans through the business as they are all older than 3 years.
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