Travel Expenses Tax Relief
If you have travel expenses because of your job, a claim for tax relief for the last four tax years can be made. The way in which you make a claim depends on the form of transport you use.
How Much Can I Claim?
How much tax rebate you can claim for travel expenses depends on how much, if anything, you are paid by your employer and whether any reimbursement is taxed or not.
If you are not reimbursed anything by your employer you can reclaim tax relief on all allowable travel expenses.
Using Your Own Vehicle…
- If you are paid a mileage allowance by your employer but it is taxed, you should be able to claim the full business mileage allowance. If you are paid untaxed business mileage by your employer but it does not reach the allowed rates as set by HMRC, the difference between the allowable business mileage rates, and the figure paid to you by your employer, can be claimed.
- Currently the business mileage allowance rate set by HMRC for use of your own vehicle is 45p per mile for the first 10000 business miles and 25p thereafter. If a travel expenses claim is successful you will receive tax relief at either 20% or 40% of the travel expenses figure, depending on which tax bracket you fall into.
Using Public Transport
- If you use public transport and you are paid a travel allowance which is taxed a claim for the full cost of your travel is possible.
- If you are paid a travel allowance which is not taxed tax relief can be claimed on the difference between what you are paid and what you have spent.
How Do I Make A Claim?
Tax Rebate Service specialises in helping people like you claim tax relief on their travel costs. Travel expenses claims can be complicated, which is why we offer a professional and hassle free travel expenses service. Please call today to make a claim on 0845 094 0005 or 01228 520477.