[ˈmaɪlɪʤ əˈlaʊəns]
Mileage Allowance is a tax-free allowance available for employees and self-employed individuals who use their personal vehicles for work.
Mileage Allowance is a tax-free allowance for individuals who make use of their personal vehicles for work. It is available for both Employees and Self-employed individuals.
If a car is bought specifically for business use, then it might be more tax efficient to claim the cost of the car which is higher.
For the 2023/24 Tax Year, car drivers can claim 45p per mile for the first 10,000 miles and then 25p per mile for any more than that. Motorbike riders can claim a flat 24p per mile and bike riders can claim 20p per mile.
Mileage Allowance can be added in the expenses section of your Self Assessment.
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