Hi there folks
Looking for some help if you can.
Does anyone have details of a website that lists fuel (diesel) average costs over the last 2-4 years. Really need to be able to show my company that fuel has gone up considerably and the mileage allowance they are paying is next to useless.
Thanks
DW
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Cheers, just what I needed.
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Hmm?I?m not sure that article will do you any good ? it?s complaining about how motoring costs have gone down in real terms over the last few yrs (whereas public transport costs have rocketed).
Try this link tinyurl.com/79k7v which says that in 2001 diesel was 78p/litre.
Funnily enough I did this exercise a few wks ago ? assuming the 2001 price of 78p and today?s price of 95p, and a car that does 40MPG, the cost of fuel per mile was 8.85p and is now 10.77p
I actually get 15p, plus a tax refund (you are claiming this, aren?t you?). Given that other costs are pretty static (cue huge argument!) then the fuel cost increase isn?t a disaster.
There?s also not much incentive for employers to pay higher mileage allowance, as all it does is to reduce the tax rebate that you get (although you only actually get 22% or 40% of the full amount, depending on your tax rate).
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Sorry Stuartli - didn't see your AA link.
Any chance of an edit button :-)
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I do it all the time...:-)
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What\'s for you won\'t pass you by
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I think a company has to give you 43p a mile, otherwise you are classed as subsidising them, and have to have this calculated as pre-tax expenditure for work and if you are PAYE, they will have to do this, this caused a big stink where I work and that was over 2p, on the end they had to make it 43p.
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I think a company has to give you 43p a mile, otherwise you are classed as subsidising them, and have to have this calculated as pre-tax expenditure for work and if you are PAYE, they will have to do this, this caused a big stink where I work and that was over 2p, on the end they had to make it 43p.
The official Inland Revenue rate is 40ppm for the 1st 10,000 business miles. If you receive 43p per mile you make a 'profit' of 3 pence per mile which is taxable, Ime afraid. Of course, it also works the other way round, so if you make a 'loss' the difference can be claimed from the IR.
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In many cases (such as my own) I 'opted out' of a company car scheme, so I get a monthly allowance, which is taxed at my normal rate. The 15p (plus tax rebate for business miles) I get is only supposed to cover the day to day business related running costs.
Our 'occasional' car users, who don't have a monthly allowance, do get the full IR allowed 40p per mile.
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Duffelcoat, being the sad anorak I am, I keep a spreadsheet of every time I have put fuel in the tank. For the Saxo (Diesel) this will go back over 4 years if it is of any use to you?
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