Mileage allowance payments 2005 2006

chartered accountants Manson & Partners, dumfries scotland uk (full address)

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We are also regulated for a range of investment business activities by the Institute of Chartered Accountants of Scotland.

Tax Data 2005 / 2006

MILEAGE ALLOWANCE PAYMENTS

Cars and vans	2005/06 and 2004/05 - rate per mile:
Up to 10,000 miles	40p
Over 10,000 miles	25p
Bicycles	20p
Motorcycles	24p

These rates represent the maximum tax-free mileage allowances for employees using their own vehicles for business. Any excess is taxable. If the employee receives less than the statutory rate, tax relief can be claimed on the difference.

tax rates & reliefs,
tax credits,
pension premiums,
fuel benefits,
mileage allowance,
ISAs,
corporation tax,
capital allowances,
value added tax,
capital gains tax,
inheritance tax,
stamp duty tax,
national insurance,
social security,
self assessment.

Please contact us if you wish to discuss any matters raised.