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Guidance. Travel — mileage and fuel rates and allowances. Updated 26 March 2024. Approved mileage rates from tax year 2011 to 2012 to present date. Passenger payments — cars and vans. 5p...
The attached document is classified by HMRC as guidance and contains information about rates and allowances for travel, including mileage and fuel allowances.
What the 2024 HMRC mileage rates and what journeys can employees claim? This is covered in TravelPerk's short guide to mileage allowance in the UK.
The HMRC mileage allowance is a rate set by HMRC that allows businesses in the UK to reimburse employees for the use of their personal vehicles for business purposes. The primary goal of the mileage allowance is to provide a tax-free threshold for mileage reimbursement, ensuring that employees are compensated for the business use of their ...
Currently, HMRC mileage rates are set at 45p per mile for the first 10,000 miles for cars and vans. After 10,000 miles, the amount that businesses can claim back drops to 25p per mile. Business mileage rates are updated by HM Revenue and Customs (HMRC) every year and published on the gov.uk website.
Tax: rates per business mile. Your employee travels 12,000 business miles in their car - the approved amount for the year would be £5,000 (10,000 x 45p plus 2,000 x 25p). It does not matter...
The rates for 2023 are as follows: Cars and vans – 45p for the first 10,000 miles, 25p for every mile over 10,000 driven miles for business. Motorcycles – 24p per mile regardless of the miles driven. Bicycles – 20p per mile regardless of the miles driven.