As a reminder, we are sharing an extract of our ‘reclaiming of VAT on mileage claims’ calculator for VAT returns. If you are a client and would like a copy of the excel template, which includes different engine sizes and diesel vehicles too, please do get in touch.
Petrol
Mileage Calculations - from 1 June 2021 - 31 August 2021
1400cc or less
| Total Miles |
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Work related milleage |
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£ |
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| Fuel costs gross |
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0.11 |
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0.00 |
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| Non fuel costs gross |
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0.34 |
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0.00 |
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| Total amount to pay |
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0.45 |
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0.00 |
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Should tie in to payment made |
| VAT on fuel (at 20% or 1/6) |
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0.00 |
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| Net |
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0.00 |
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The above is usually used to calculate the input VAT that can be reclaimed on the fuel element of a mileage reimbursement to an employee when using their own car or if they drive a company car and pay for their own fuel.
The advisory electricity rate for fully electric cars is 4 pence per mile. Hybrid cars are treated as either petrol or diesel cars for advisory fuel rates.
The above rate is updated by HMRC quarterly and this can be found on the following link: www.gov.uk/guidance/advisory-fuel-rates
If you have any further questions please get in touch with your usual contact.